India, July 31 -- President Donald Trump has signed an Executive Order implementing an additional 40 percent tariff on Brazil, bringing the total tariff amount to 50 percent.
Trump said he is imposing this heavy rate of duty "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 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 percent tariff to address the Government of Brazil's unusual and extraordinary policies and actions harming U.S. companies, the free ...