The White House announced Wednesday that U.S. President Donald Trump has signed an executive order imposing an additional 40% tariff on Brazil, bringing the total tariff value to 50%.
In a statement, the White House attributed President Trump's decision to recent Brazilian policies which the U.S. administration does not approve of.
The statement also indicated that President Trump signed a declaration imposing tariffs on copper imports, citing national security considerations.
The declaration imposes a 50% tariff on semi-manufactured copper products and copper-intensive derivatives, effective from August 1.
Earlier this month, the Brazilian government announced it is evaluating multiple options in response to the sanctions imposed by the United States, including the potential restriction of dividend distributions transferred from U.S. companies operating within Brazil.
