Trump cites Bolsonaro’s treatment as a reason for tariffs
Donald Trump stated that the US’s decision to impose a 50 per cent tax was made in light of the treatment of former Brazilian President Jair Bolsonaro. Bolsonaro is currently facing accusations of plotting a coup in Brazil.
Lula: We are a sovereign nation; external interference is unacceptable
Brazilian President Lula responded sharply to Trump’s statement. President da Silva said that Brazil is a sovereign nation with its own independent institutions. We will not accept any kind of external interference. He stated that the ongoing proceedings against former President Bolsonaro are entirely under the purview of the judiciary. No external pressure will be accepted. President Lula stated that freedom of expression in Brazil does not mean violence, aggression, or spreading hatred. He said that Brazil will not tolerate any kind of online hate speech, racism, child exploitation, or any other form of abuse. President da Silva said that all companies operating in the country, whether domestic or foreign, must abide by Brazilian laws. He added that over the past 15 years, trade between the US and Brazil has benefited the US by $410 billion, according to US reports.
Open threat to BRICS; Trump calls himself a smart president
Trump also issued a direct threat to the countries in the BRICS group. Trump said that the BRICS organisation was created to harm the US and will soon face a 10 percent tariff. He said that BRICS wants to weaken the dollar and remove it from the global standard. They will have to pay a heavy price for this. He said that with a smart president, you won’t lose the dollar’s position, but a foolish president, as last time, will lose the dollar. Weakening the dollar means losing a world war.
Countries affected by tariffs
On Wednesday, US President Donald Trump announced heavy tariffs on seven countries: Algeria, Iraq, Libya, Sri Lanka, Brunei, Moldova, and the Philippines. These import tariffs will come into effect on August 1st. Furthermore, US President Donald Trump has also included Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia, Bosnia and Herzegovina, Bangladesh, Serbia, Cambodia, and Thailand in his policy.