Trump slapped a range of Brazilian goods at his highest category of tariffs on August 6, in order to punish Latin America’s biggest economy for what he called the “witch hunt” in Latin America, according to an AFP report cited by other media.
Bolsonaro is on trial for a coup over his bid, the left-wing president, to prevent his successor, President Louise Inacio Lula da Silva, from taking office after his victory over Bolsonaro in the October 2022 election.
A court verdict is expected next week.
Exports to the US to Brazil fell to US$27.6 billion in August from US$3.39 billion the previous year, Commerce statistics show.
Nevertheless, Brazil’s total exports rose slightly in August, supported by increased flows to China, Argentina and Mexico.
Trump has repeatedly rampaged over US trading partners driving massive trade surplus with the US.
However, Brazil has imported more from the US than it has exported to the world’s largest economy over the past 16 years.
The trade deficit with Washington reached US$1.23 billion in August.
Some Brazilian exports were hit by tariffs in August. Sugar was reduced by 88.4% and fresh beef was reduced by 46.2%.
Approximately 700 products are exempt from customs duties.
MNA/PR