Overview

• President Trump dispatched letters to more than 20 trading partners outlining tariffs from 20% to 40% set to take effect on August 1 unless new deals are struck.
• He imposed a punitive 50% tariff on all Brazilian imports in response to the trial of former President Jair Bolsonaro and alleged free-speech violations.
• The letters invoke emergency authority under the International Emergency Economic Powers Act and promise to adjust duties if counterparts lower their own barriers, with no further extensions allowed.
• Only preliminary agreements with the United Kingdom and Vietnam have been reached so far, while talks with the European Union, Japan and South Korea press on under the looming deadline.
• Critics in Congress and trade experts warn the sweeping measures risk breaching WTO rules, driving up U.S. consumer prices and disrupting global supply chains.