President Trump announces additional tariff actions, including Copper products and Brazil imports
by National Marine Manufacturers Association 1 Aug 00:35 BST
President Trump announces additional tariff actions, including Copper products and Brazil imports © National Marine Manufacturers Association
Yesterday, President Donald Trump announced additional plans to impose new tariff rates on imports from Brazil and semi-finished and derivative copper products. The President also suspended the de minimis exemption for commercial shipments.
The executive order outlines a new 50% tariff rate on imports from Brazil, with enforcement beginning to take place on August 6. Notably, there is an "on-water" exemption for products in transit before August 6. The executive order also outlines an escalation clause that the President will increase the tariff rate should Brazil issue retaliatory tariffs on American-made products.
The announcement on copper comes as a result of a Section 232 investigation into imports, which commenced earlier this year.
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