Overview

• On July 30, President Trump signed an executive order under the International Emergency Economic Powers Act to raise U.S. tariffs on all Brazilian imports from 10% to 50%, effective early August.
• The U.S. Treasury invoked the Magnitsky Act to freeze any assets Justice Alexandre de Moraes may hold in the United States and bar Americans from transacting with him.
• The White House cited Brazil’s trial of former President Jair Bolsonaro as a politically motivated persecution that has undermined free expression and the rule of law.
• Brazilian President Lula called the measures unjust threats to national sovereignty and affirmed that Bolsonaro’s prosecution will proceed while exploring possible retaliatory actions.
• The dispute has escalated diplomatic tensions between the two leading economies in the Americas, with both sides expressing readiness for negotiations on equal footing.