EconomyLens.com
No Result
View All Result
Thursday, July 10, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

Trump hits Brazil with 50% tariff, sets date for copper levy

Emma Reilly by Emma Reilly
July 10, 2025
in Other
Reading Time: 8 mins read
A A
0
21
SHARES
262
VIEWS
Share on FacebookShare on Twitter

US President Donald Trump released six more letters setting out tariff rates between 20 percent and 30 percent for trading partners. ©AFP

Washington (AFP) – President Donald Trump announced a 50-percent tariff Wednesday targeting Brazil as he blasted the trial of the country’s ex-leader, and said a US “national security” levy on copper would begin in August.

Related

Wall Street stocks stall, London hits record high

EU opens new probe into TikTok data transfer to China

Stocks rise on tariff optimism, London hits record high

London hits record as trade deal hopes fan rally on markets

Japan’s sticky problem with Trump, tariffs and rice

In a letter addressed to Brazilian President Luiz Inacio Lula da Silva, Trump criticized the treatment of his right-wing ally Jair Bolsonaro as an “international disgrace.” Bolsonaro is facing trial over accusations he plotted a coup after his narrow 2022 election loss to Lula. In response to Trump’s tariff letter, Lula warned of possible reciprocation, writing on social media that “any unilateral tariff increases will be addressed in light of the Brazilian Law of Economic Reciprocity.” Brazil said earlier on Wednesday it had summoned the US charge d’affaires over Trump’s previous criticism of the Bolsonaro trial.

The 50-percent US tariff on Brazilian goods will take effect August 1, Trump said in his letter, mirroring a deadline that dozens of other economies face. On that same date, a 50-percent tariff on US imports of copper — a key metal used in green energy and other technologies — will take effect, Trump announced Wednesday evening on social media. He said the move followed a “robust NATIONAL SECURITY ASSESSMENT,” likely alluding to a Department of Commerce investigation into copper launched this year. “Copper is the second most used material by the Department of Defense!” Trump said.

– Escalation threats –

Trump’s message to Lula was the latest in more than 20 such letters the US president has released since Monday, after repeatedly threatening to simply decide a rate for countries as negotiations continue over his elevated “reciprocal” tariffs. Brazil had not been among those threatened previously with duties above a 10-percent baseline, and the United States runs a goods trade surplus with Brazil.

China said in response that “arbitrary” tariffs such as the 50-percent levy on copper “serve no party’s interests.” “We have always opposed the overstretching of the concept of national security,” foreign ministry spokeswoman Mao Ning told a regular news conference. On Wednesday, Trump also addressed letters to leaders of the Philippines, Sri Lanka, Brunei, Algeria, Libya, Iraq and Moldova, spelling out duties ranging from 20 percent to 30 percent that would also take effect on August 1. Similar to a first batch of documents published Monday, the levels were not too far from those originally threatened in April, although some partners received notably lower rates this time.

While Trump in April imposed a 10-percent levy on almost all trading partners, he unveiled — and then withheld — higher rates for dozens of economies. The deadline for those steeper levels to take effect was meant to be Wednesday, before Trump postponed it further to August 1. Countries that faced the threats of elevated duties began receiving letters spelling out US tariff rates on their products. In the messages, Trump justified his tariffs as a response to trade ties that he says are “far from Reciprocal.” The letters urged countries to manufacture products in the United States to avoid duties, while threatening further escalation if leaders retaliated.

Other countries that have received Trump’s letters include key US allies Japan and South Korea, as well as Indonesia, Bangladesh and Thailand.

– EU deal in ‘coming days’? –

Analysts have noted that Asian countries have been a key target so far. But all eyes are on the state of negotiations with major partners who have yet to receive such letters, including the European Union. European stock markets rose at the start of trading on Thursday, with London hitting a fresh record high on optimism that governments will strike deals to avoid the worst of US tariffs. The Trump administration is under pressure to unveil more trade pacts. So far, Washington has only reached agreements with Britain and Vietnam, alongside a deal to temporarily lower tit-for-tat levies with China.

Trump said on Tuesday his government was “probably two days off” from sending the EU a letter with an updated tariff rate. An EU spokesperson said Wednesday the bloc wants to strike a deal with the United States “in the coming days,” and has shown readiness to reach an agreement in principle. Apart from tariffs targeting goods from different countries, Trump has rolled out sector-specific duties on steel, aluminum and autos since returning to the White House in January.

© 2024 AFP

Tags: BrazilDonald Trumptariffs
Share8Tweet5Share1Pin2Send
Previous Post

Global stocks mostly up despite new Trump tariffs, Nasdaq at record

Next Post

Most stocks rise on trade deal optimism

Emma Reilly

Emma Reilly

Related Posts

Other

Global stocks mostly up despite new Trump tariffs, Nasdaq at record

July 9, 2025
Other

AI giant Nvidia becomes first company to reach $4 tn in value

July 10, 2025
Other

Trump broadens push for tariff deals, unveils 50% Brazil levy

July 9, 2025
Other

Yemen’s Huthis claim deadly Red Sea attack on merchant ship

July 9, 2025
Other

Copper’s strategic role threatened by Trump tariffs

July 9, 2025
Other

Trump issues more letters to countries in push for tariff deals

July 9, 2025
Next Post

Most stocks rise on trade deal optimism

Japan's sticky problem with Trump, tariffs and rice

Mexico barred from sending cattle to US over flesh-eating pest

In Indonesia, a start-up captures coolants to stop global warming

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Wall Street stocks stall, London hits record high

July 10, 2025

EU opens new probe into TikTok data transfer to China

July 10, 2025

Volkswagen halts electric minivan exports to the United States

July 10, 2025

Italy probes UK online bank Revolut for ‘misleading’ clients

July 10, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.