President Donald Trump escalated his trade war Wednesday by threatening Brazil with a 50% tariff on U.S.-bound exports starting August 1, according to Reuters. Trump raised Brazil’s tariff in a letter to President Lula, expressing anger over the trial of former president Jair Bolsonaro. The president also accused Brazil of undermining free elections and speech and ordered an investigation into its trade practices over alleged censorship of U.S. social media. Brazil is the 15th largest U.S. trading partner, with $92 billion in two-way trade and a $7.4 billion U.S. trade surplus in 2024. The Trump administration pledged "90 deals in 90 days" after April tariff hikes but has secured only two agreements so far, with Britain and Vietnam, and says a deal with India is near.
