Brazil turns to WTO for relief over Trump's 50pc tariffs on coffee, beef, sugar
The 50-per cent tariff on several Brazilian goods went into force Wednesday over what Trump has termed a 'witch hunt' against his far-right ally Jair Bolsonaro, the former president on trial for plotting a coup.
The sources said Brazil's government had filed a request for consultations with the US mission to the WTO, the first formal step in the trade body's dispute settlement process.
Trump's latest tariff salvo raised duties on Brazil from 10 per cent to 50 per cent for key exports including coffee, beef and sugar.
Broad exemptions on products such as orange juice and civil aircraft somewhat softened the blow.
Brazil's Vice President Geraldo Alckmin previously told journalists the new tariff would apply to about 36 per cent of the country's exports to the United States.
In an executive order last week, the Trump administration lashed out at Brazilian officials for 'unjustified criminal charges' against Bolsonaro, on trial for allegedly plotting a coup to wrest back power after losing the 2022 presidential elections to Lula.
Trump's order, which also criticized Brazil's digital regulation, charged that the Lula government's recent policies and actions threatened the US economy, national security, and foreign policy. — AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
25 minutes ago
- New Straits Times
China wants US to relax AI chip-export controls for trade deal, FT reports
NEW YORK: China wants the United States to ease export controls on chips critical for artificial intelligence as part of a trade deal before a possible summit between Presidents Donald Trump and Xi Jinping, the Financial Times reported on Sunday. Chinese officials have told experts in Washington that Beijing wants the Trump administration to relax export restrictions on high-bandwidth memory chips, the newspaper reported, citing unnamed people familiar with the matter. The White House, State Department and China's foreign ministry did not immediately respond to requests for comment on the report. HBM chips, which help perform data-intensive AI tasks quickly, are closely watched by investors due to their use alongside AI graphic processors, particularly Nvidia's. The FT said China is concerned because the US HBM controls hamper the ability of Chinese companies such as Huawei to develop their own AI chips. Successive US administrations have curbed exports of advanced chips to China, looking to stymie Beijing's AI and defence development. While this has impacted US firms' ability to fully address booming demand from China, one of the world's largest semiconductor markets, it still remains an important revenue driver for American chipmakers.
The Sun
an hour ago
- The Sun
Armenians divided over peace accord with Azerbaijan in Yerevan
YEREVAN: The streets of Yerevan remained quiet under the summer heat as residents gathered in shaded parks to discuss the implications of the newly signed peace accord with Azerbaijan. The agreement, brokered by US President Donald Trump, aims to resolve decades of territorial disputes between the two Caucasian nations. Asatur Srapyan, an 81-year-old retiree, cautiously welcomed the deal, stating Armenia had little choice but to accept it. He acknowledged the country's limited military strength and lack of strong allies compared to Azerbaijan. Maro Huneyan, a 31-year-old aspiring diplomat, called the pact acceptable but remained skeptical about Azerbaijan's commitment to honoring its terms. She stressed the importance of ensuring the agreement aligns with Armenia's constitutional principles. However, Anahit Eylasyan, 69, strongly opposed the deal, particularly the proposed transit zone linking Nakhchivan to Azerbaijan through Armenian territory. She likened the arrangement to losing control over her own home. Eylasyan also expressed concern over Armenia's strained relations with Russia, a traditional ally. She accused Prime Minister Nikol Pashinyan of making unilateral decisions and offering excessive concessions to Azerbaijan. Shavarsh Hovhannisyan, a 68-year-old engineer, dismissed the agreement as meaningless for Armenia, calling it a surrender rather than a peace treaty. He criticized Pashinyan for distancing Armenia from Russia and Iran while placing trust in unreliable negotiations. President Trump hailed the accord as a commitment to permanent peace, open borders, and mutual sovereignty. Olesya Vartanyan, a Caucasus researcher, noted the deal could bring short-term stability but warned against long-term optimism given historical tensions. She emphasized the need for cautious planning in the fragile geopolitical landscape. - AFP
Malay Mail
an hour ago
- Malay Mail
China wants US to ease AI chip restrictions before possible Trump-Xi summit
BEIJING, Aug 10 — China wants the United States to ease export controls on chips critical for artificial intelligence as part of a trade deal before a possible summit between Presidents Donald Trump and Xi Jinping, the Financial Times reported on Sunday. Chinese officials have told experts in Washington that Beijing wants the Trump administration to relax export restrictions on high-bandwidth memory chips, the newspaper reported, citing unnamed people familiar with the matter. The White House, State Department and China's foreign ministry did not immediately respond to requests for comment on the report. HBM chips, which help perform data-intensive AI tasks quickly, are closely watched by investors due to their use alongside AI graphic processors, particularly Nvidia's. The FT said China is concerned because the US HBM controls hamper the ability of Chinese companies such as Huawei to develop their own AI chips. Successive US administrations have curbed exports of advanced chips to China, looking to stymie Beijing's AI and defence development. While this has impacted US firms' ability to fully address booming demand from China, one of the world's largest semiconductor markets, it still remains an important revenue driver for American chipmakers. — Reuters
