Rubio blames Brazil’s 25% tariffs on Lula’s ‘ego’ — but exempts coffee and beef
Fortune – Tech
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Summary
The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world’s 10th-biggest economy. The tariffs, which were first proposed last month, will take effect July 22. The order exempts some goods that are not produced in the U.S. or that officials worry would disrupt supply chains. Exempted products include coffee, beef, oranges and orange juice, some oil and gas energy products and aerospace parts and components. The Office of the U.S. Trade Representative concluded after a yearlong investigation that Brazil had a range of unfair trade practices, including lax anti-corruption enforcement and unfair tariffs of its own, among other practices seen as unreasonable and unfair. The U.S., however, has had a goods trade surplus with Brazil for years. U.S. Trade Representative Jamieson Greer said in a statement that the action was necessary to ensure American workers and companies compete on a level playing field. “Extensive negotiations with Brazil over the past year have not resolved these issues, but we remain open to continuing negotiations with Brazil to bring about long-needed changes to the problems identified in this investigation,” he said. Supreme Court in February ruled against many of Trump’s tariffs imposed under a different law, the International Emergency Economic Powers Act (IEEPA) of 1977.
From the source
The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world’s 10th-biggest economy. The tariffs, which were first proposed last month, will take effect July 22. The order exempts some goods that are not produced in the U.S. or that officials worry would disrupt supply chains. Exempted products include coffee, beef, oranges and orange juice, some oil and gas energy products and aerospace parts and components. The Office of the U.S. Trade Representative concluded after a yearlong investigation that Brazil had a range of unfair trade practices, including lax anti-corruption enforcement and unfair tariffs of its own, among other practices seen as unreasonable and unfair. The U.S., however, has had a goods trade surplus with Brazil for years. U.S. Trade Representative Jamieson Greer said in a statement that the action was necessary to ensure American workers and companies compete on a level playing field. “Exte
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