Live updates: Trump's trade war intensifies as he hits Brazil with 50% tariff
What to Know
- Trump linked the tariffs to Brazil’s treatment of former President Jair Bolsonaro, who is on trial over charges of plotting a coup to stop President Luiz Inacio Lula da Silva from taking office in 2023.
- Lula responded in a post on X Wednesday, calling Trump’s claim about a trade deficit “inaccurate,” and saying new tariffs would be met with reciprocal measures.
- Trump also said he’s imposing a 50% tariff on copper imports starting Aug. 1 and would soon announce tariffs “at a very, very high rate, like 200%,” on pharmaceutical imports and
- Secretary of State Marco Rubio met with Russian Foreign Minister Sergey Lavrov today in Kuala Lumpur and expressed frustration by the lack of progress in talks to end the war in Ukraine.
- The Secret Service suspended six people without pay after the assassination attempt on President Donald Trump last July, an official with the agency told NBC News.
In a statement late Wednesday, President Donald Trump announced plans to impose a 50% tariff on Brazil starting August 1. The 50% rate is by far the highest tariff Trump has slapped on any nation so far this week as he rolls out dozens of letters on his social media platforms. Follow along for live updates.