Overview

• A presidential decree shifts the rollout of variable import duties on about 70 trading partners by one week to August 7 to give customs authorities extra implementation time.
• The new tariff schedule replaces a flat 10% levy with country-specific rates ranging from 10% up to 50%, including a 15% surcharge for the EU, Japan and South Korea.
• A 50% duty on Brazilian imports took effect immediately, imposed in response to the trial of former President Jair Bolsonaro.
• The administration barred entry to and threatened asset freezes for Brazilian Supreme Court Judge Alexandre de Moraes over his handling of the Bolsonaro case.
• An executive order will eliminate the de-minimis exemption for low-value shipments under $800 on August 29, instituting flat per-item duties between $80 and $200.