Trump Announces Tariffs on Eight More Countries
Initial announcements were made via Truth Social, Trump’s proprietary social media platform, where he shared letters addressed to seven nations: the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka.
Details in the letters outlined the specific tariff rates: Libya, Iraq, Algeria, and Sri Lanka will face a 30% duty; Brunei and Moldova, 25%; and the Philippines, 20%.
Later in the day, Trump revealed a harsher penalty for Brazil. Goods imported from the South American country will be subject to a 50% tariff beginning the same date.
In his message to Brazilian President Luiz Inacio Lula da Silva, Trump wrote: "Due in part to Brazil's insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans ... we will charge Brazil a Tariff of 50% on any and all Brazilian products sent into the United States."
Reacting to the move, Lula issued a response on X, saying: "Any unilateral measure to raise tariffs will be responded to in light of Brazil's economic reciprocity law."
Brazilian Vice President Geraldo Alckmin called the decision unfair, stating Wednesday: "I see no reason to increase tariffs on Brazil. Brazil is not a problem for the United States; it is important to reiterate that. The United States has a trade deficit, but a surplus with Brazil."
This marks the second wave of tariff notifications this week. On Monday, Trump sent similar letters to 14 other nations, enacting duties between 25% and 40%.
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