Washington DC: US President Donald Trump has signed an executive order imposing a 50 per cent tariff on Brazil, the White House stated, as his administration escalates its aggressive manoeuvres in the ongoing trade war between the two nations.
According to a fact sheet of the order released by the White House on Wednesday (local time), the decision was made based on the recent policies, actions, and practices by the Brazilian government that, according to the US, showed an exceptional and significant threat to its national security, foreign relations, and economic interests.
“President Donald J. Trump signed an Executive Order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, to deal with recent policies, practices, and actions by the Government of Brazil that constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States,” the statement read.
The order stated that the Brazilian government’s policies and actions had negatively impacted US businesses and undermined the free speech rights of US citizens, threatening US foreign policy and economic interests.
“The Order declares a new national emergency using the President’s authority under the International Emergency Economic Powers Act of 1977 (IEEPA) and establishes an additional 40% tariff to address the Government of Brazil’s unusual and extraordinary policies and actions harming U.S. companies, the free speech rights of U.S. persons, U.S. foreign policy, and the U.S. Economy,” it noted. (ANI)
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