Trump Announces Tariffs on New Seven Countries but 50% on Brazil

President Donald Trump posted several letters on social media setting tariffs on imports from seven countries but hitting Brazil hard, telling its current President Luiz Inácio Lula da Silva that the U.S. was setting a 50% tariff on its products entering the U.S., starting Aug. 1, in a missive that took the South American nation to task for the trial of its former leader.

Earlier in the day, Trump posted several letters on social media setting tariffs on imports from seven countries, including 20% for products from the Philippines, and 30% for products from Algeria, Iraq, Sri Lanka, and Libya. The new rates for imports from Brunei and Moldova are 25%.

The tariff level is significantly higher than the 25% to 40% rate Trump has chosen for imports from 21 other countries in announcements he has made since Monday. Trump is also directing an investigation of Brazil’s trade practices under Section 301 of U.S. trade law.

The letter to Brazil is a major departure from the form-like letters sent to the other nations. Trump called Brazil’s treatment of former president Jair Bolsonaro “an international disgrace,” in the letter. Bolsonaro is facing trial for allegedly attempting to stage a coup against current Lula da Silva and can’t run for office until 2030.

“This Trial should not be taking place,” Trump said in the letter, calling it a witch hunt that should end immediately. The higher U.S. tariff is “Due in part to Brazil’s insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans” Trump wrote in the letter, posted to X Wednesday afternoon.

On Monday, he released the first 14 letters detailing what rates the U.S. would charge on imports if no trade deal was reached before his new Aug. 1 deadline. Those rates ranged from 25% for products from Japan and South Korea to 40% for products from Laos and Myanmar.

The president said in response to a reporter’s question on Wednesday that the tariff rates, which are similar to the levels he originally announced in April, were calculated using a combination of common sense, the U.S. trade deficit, and how the U.S. has been treated over the years. He also said he hasn’t heard too many complaints from countries about the rates.

It’s also possible that new trade deals could also be announced shortly, with the new deadline approaching in just three weeks. Any deal with the European Union is of particular interest, as the bloc trades even more with the U.S. than China. On Tuesday, Trump said a letter to the EU might come out on Thursday.

But the EU could be closing in on a deal, The Wall Street Journal reported. The agreement would retain the 10% tariff on most goods and may not include exemptions for the 25% levy on cars and 50% tax on steel, the Journal reported, citing people familiar with the talks. The U.S. may exempt some sectors such as aircraft or spirits, the report said.

Trump also said Tuesday that 50% tariffs on copper and up to 200% on pharmaceuticals would soon take effect. He added that the Aug. 1 deadline for deals wouldn’t be pushed back- the previous expiration date on the reprieve from higher levies was today.

The stock market was unfazed by the news yesterday, perhaps because traders expect deals to happen or because they believe the tariffs won’t end up having a big impact.

The decision to delay the start of higher across-the-board tariffs came after White House officials including Treasury Secretary Scott Bessent told Trump that more deals would happen if given a little more time, the Journal reported citing people familiar with the matter. That suggests a number of agreements could be struck ahead of Aug. 1, or maybe even in the days ahead.