50% tariff: US President Donald Trump on Wednesday took an aggressive step in global trade and decided to impose heavy tax on the first 7 countries. Subsequently, he also announced a 50 percent import duty on Brazil. Earlier, he announced tax for Algeria, Iraq, Libya, Sri Lanka (30%), Brunei, Moldova (25%) and Philippines (20%). These fees will be applicable from August 1.
America’s threat to take equal steps on import duty
Just hours after this announcement, Brazilian President Luiz Eneasio Lula Dr. Silva gave a strong reply and said that if the US increased the import duty on goods coming from Brazil, Brazil would take the same step. The statement came when US President Donald Trump said to impose a huge import duty of 50 percent on products coming from Brazil. Trump also said that the step has been taken in view of the behavior of former Brazilian President Zaar Bolsonaro. Bolsonaro is currently facing trial on charges of conspiracy of coup. President Lula’s office said in a statement, “If a country increases import duty unilaterally, Brazil will answer it under its economic law.
Lula’s strong answer on Trump’s tariff
Following this statement, the possibility of trade war between the US and Brazil has increased. In fact, Trump had said that the reason for imposing tariffs on Brazil is problems with the ongoing trial and business relations against Bolsonaro. He says that Brazil is not doing fair trade with the US. He said, “If the BRICS countries weakened the dollar and removed it from the global standard, they will have to pay a huge price. If you have a smart president, you will not lose the dollar position. But if the last time a foolish president is, the dollar will also lose. And the dollar means losing the dollar, the world war losing.” After Trump’s announcement of imposing a 50 percent import duty on Brazil, Brazilian President Luiz Inecio Lula Dr. Silva gave a sharp reply. Lula’s office said, “If a country increases the tariff in a one -sided manner, Brazil will respond to it under its ‘Economic Emergency Act’.” This means that Brazil can also levy equal fees on products coming from America.
External interference and pressure will not bear- Brazil
Subsequently, President Lula wrote a post on the social media platform X, in which he said that Brazil is an independent and sovereign country and he would not accept any external interference. He wrote, “Brazil is a sovereign country, which has its own independent institutions. We will not endure any external interference. The President of Brazil also made it clear that the legal action against former President Bolsonaro is completely under the judiciary of Brazil and no external pressure will be endured.” He said, “He said,” There are no threats against those who were conspired to conspiracy, and there are no threats against those who are in the courts of Brazil. Or external intervention will not affect. “
President Lula also said that freedom of expression in Brazil does not mean to spread violence, aggression or hatred. He also said that Brazil will not tolerate any kind of online hatred speech, racism, child abuse or any other misconduct. All companies working in the country, whether they are from Brazil or foreigners, will have to follow Brazilian laws.
Trump’s allegations were described as false
Donald Trump had justified the tariff, accusing Brazil of attacking US elections and freedom of expression. To this, Lula replied that these allegations are wrong and the facts have been presented by rotating. He also denied Trump’s claim about the US trade deficit, saying, “The US has gained $ 410 billion in trade between the US and Brazil in the last 15 years, and the figure is proved by the US government figures.
South Korea and Japan are also affected
On Monday, Trump announced a 25 percent fee on all goods coming from South Korea and Japan. He said that these decisions had been hanging for a long time and were necessary to balance the American trade deficit.
So far more than 20 countries target
Subsequently, Trump also included Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia, Bosnia & Herjegovina, Bangladesh, Serbia, Cambodia and Thailand, increasing the scope of its tariff policy. He said, “Countries who have been running tariffs and other policies against America for years, they will have to answer it.” He also said, “This trade deficit is a big threat to our economy and national security.”
Exemption offer to American companies
Trump also said that international companies that bring their production to America will be exempted from these tariffs. However, he also warned that if a country imposes tariffs in turn, the US will increase more fees.
Trump’s open threat to BRICS
Trump, especially targeting BRICS countries, said that the group has been designed to harm America. He said that whoever is included in this group will soon be charged 10 percent. The statement includes India, Russia, China, South Africa and Brazil.
