economy
Trump administration proposes 25% tariffs on Brazil despite US trade surplus
US claims world’s 10th-biggest economy engages in ‘unreasonable’ trade practices that ‘restrict US commerce’
TL;DR
- The Trump administration proposed 25% tariffs on Brazilian imports, citing "unreasonable" trade practices.
- Brazil's President Lula da Silva expressed "indignation" and blamed the decision on political rivals.
- The US trade representative stated that "substantial differences" remain in resolving identified trade issues.
- Brazil's government threatened to retaliate and adopt measures to protect its national economy.
- The US has maintained a goods trade surplus with Brazil.
- The Trump administration previously imposed a 50% tariff on Brazil last year.
- The proposed tariffs are based on section 301 of the Trade Act of 1974.