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US slaps 25 pct tariffs on certain goods from Brazil

China

China

China

US slaps 25 pct tariffs on certain goods from Brazil

2026-07-16 18:58 Last Updated At:19:47

The United States announced on Wednesday that it will impose an additional 25 percent tariff on certain goods imported from Brazil, a move that has drawn immediate and stern condemnation from the South American nation.

At the direction of President Donald Trump, U.S. Trade Representative Jamieson Greer is taking final action under Section 301 of the Trade Act of 1974 to levy the duties, according to a statement from the Office of the United States Trade Representative.

The office said the decision follows a year-long investigation that concluded Brazilian policies on digital trade, tariffs, intellectual property, ethanol supply, and deforestation have placed burdens on American commerce.

The tariff measures are scheduled to take effect on July 22.

Meanwhile, U.S. Secretary of State Marco Rubio said the Brazilian government "has not engaged in good-faith negotiations with the United States."

In response, the Brazilian government issued a statement, denouncing the U.S. decision as "unilateral, illegal, and arbitrary."

Rejected the announced measures on Wednesday, Brazilian President Luiz Inacio Lula da Silva said that the unilateral action "makes no sense" and that "Brazil does not recognize the legitimacy of investigations that lack the support of multilateral trade rules."

US slaps 25 pct tariffs on certain goods from Brazil

US slaps 25 pct tariffs on certain goods from Brazil

Chinese stocks closed lower on Thursday, with the benchmark Shanghai Composite Index down 1.85 percent to 3,882.41 points.

The Shenzhen Component Index closed 1.97 percent lower at 14,488.65 points.

The combined turnover of stocks covered by these two indices stood at 2.4 trillion yuan (about 353.5 billion U.S. dollars), down from 2.59 trillion yuan in the previous trading day.

On the market, the film and cinema, short drama and gaming sectors were among the top gainers, while the semiconductor, memory chip, and advanced packaging sectors were among the biggest decliners.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 2.95 percent to close at 3,692.46 points Thursday.

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 3.43 percent lower at 2,110.36 points.

Chinese shares close lower Thursday

Chinese shares close lower Thursday

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