Brazil to Impose 50% Tariff on Goods Imported from the US

Brazil will impose 50 percent customs duties on goods imported from the USA starting August 1. This was announced by Brazilian President Luiz Inácio Lula da Silva in an interview with the local newspaper Jornal Nacional.

"If a decision to cancel the tariffs is not made by the US, we will switch to the principle of reciprocity from August 1," he said. Earlier, US President Donald Trump had announced the imposition of customs duties on goods imported from Brazil starting from the beginning of August. In turn, the Brazilian leader noted that the country will respond proportionately to any customs duties imposed by the United States by applying the law on economic reciprocity.

The White House chief also announced the imposition of 30% customs duties on all goods imported from Libya, Iraq, and Algeria. A 35% customs duty will be set for goods imported from Canada.