Trump order excludes aircraft, OJ, energy from Brazil tariffs
WASHINGTON - The U.S. excluded several of Brazil's major exports from the 50% tariff President Donald Trump signed into an executive order on Wednesday, including orange juice, some aircraft, wood pulp and energy products, lifting shares of planemaker Embraer and pulpmaker Suzano.
In a fact sheet published on Wednesday, the U.S. government tied the tariffs to Brazil's prosecution of former President Jair Bolsonaro, who is standing trial under charges of plotting a coup to overturn his 2022 electoral loss.
Still, the executive order excluded dozens of key Brazilian exports to the United States. Among the top concerns in the government of President Luiz Inacio Lula da Silva were aircraft produced by Embraer, which exports 45% of its commercial aircraft and 70% of its executive jets to the U.S.
Analysts had also warned of a serious potential impact on Suzano, one the world's largest wood pulp producers.
Embraer shares rose 11% in Sao Paulo and Suzano gained over 1% in afternoon trading.
The executive order came as the U.S. announced sanctions on a Brazilian Supreme Court justice overseeing Bolsonaro's trial, accusing the judge of authorizing arbitrary pre-trial detentions and suppressing freedom of expression. REUTERS
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