INTERNATIONAL
Trump sends tariff letters to 8 more countries
US President Donald Trump announces steep tariffs on Brazil and seven other nations citing election interference and trade concerns effective August 1. - REUTERS
NEW YORK: US President Donald Trump sent letters to the leaders of eight countries Wednesday, notifying them that tariffs ranging from 20 per cent to 50 per cent will be charged on goods imported from these countries starting Aug 1, reported Xinhua.
AI Brief
Trump first posted letters to seven countries -- the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka -- on Truth Social, his own social media platform.
According to the letters, 30 per cent tariffs will be imposed on Libya, Iraq, Algeria and Sri Lanka, 25 per cent on Brunei and Moldova, and 20 per cent on the Philippines.
Later in the day, Trump announced that tariffs of 50 per cent will be charged on goods from Brazil, also effective on Aug 1.
His letter to Brazilian President Luiz Inacio Lula da Silva claimed that "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 per cent on any and all Brazilian products sent into the United States."
"Any unilateral measure to raise tariffs will be responded to in light of Brazil's economic reciprocity law," Lula said Wednesday on X.
Brazilian Vice President Geraldo Alckmin said Wednesday it was "unjust" for Trump to impose tariffs of 50 per cent on Brazilian products.
"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," Alckmin said.
Trump sent the first batch of tariff letters to 14 countries on Monday, with tariffs ranging from 25 per cent to 40 per cent.
--BERNAMA-XINHUA
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AI Brief
- Trump announced new tariffs on eight countries, with Brazil facing the highest at 50%, effective August 1.
- He cited alleged attacks on free speech and elections as reasons for Brazils tariff.
- Brazils leaders called the move unjust and warned of retaliatory measures under economic reciprocity laws.
Trump first posted letters to seven countries -- the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka -- on Truth Social, his own social media platform.
According to the letters, 30 per cent tariffs will be imposed on Libya, Iraq, Algeria and Sri Lanka, 25 per cent on Brunei and Moldova, and 20 per cent on the Philippines.
Later in the day, Trump announced that tariffs of 50 per cent will be charged on goods from Brazil, also effective on Aug 1.
His letter to Brazilian President Luiz Inacio Lula da Silva claimed that "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 per cent on any and all Brazilian products sent into the United States."
"Any unilateral measure to raise tariffs will be responded to in light of Brazil's economic reciprocity law," Lula said Wednesday on X.
Brazilian Vice President Geraldo Alckmin said Wednesday it was "unjust" for Trump to impose tariffs of 50 per cent on Brazilian products.
"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," Alckmin said.
Trump sent the first batch of tariff letters to 14 countries on Monday, with tariffs ranging from 25 per cent to 40 per cent.
--BERNAMA-XINHUA