US President Donald Trump told Republicans parliamentarians planning to announce reciprocal tariffs later Friday, three sources familiar with the Plans to Reuters told.
But during a meeting with Japanese Prime Minister Shigeru Ishiba, Donald Trump.
The measure would fulfill Trump’s campaign promise to impose reciprocal tariffs on US imports equal to the rates that commercial partners impose on US exports. It was not immediately clear which countries would be affected, since the details of the proposal were not known.
Trump informed Republican parliamentarians about his plans during budget discussions at the White House on Thursday, the sources said. Trump and his main advisers said they plan to use higher imports on imports to help pay for Trump’s 2017 tax cuts.
It would be difficult to raise enough money on tariffs to affect the US budget as they have only represented about 2% of annual revenue in recent years.
The White House did not immediately respond to requests for comments.
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Trump announced 25% rates on Canada and Mexico on Saturday, but postponed their application after a negative investor reaction. The two largest US business partners have agreed to increase border inspection efforts, one of Trump’s main priorities.
Wall Street expanded losses on Friday after the news of Reuters about Trump’s discussion with parliamentarians.
Brazil
Trump has already accused Brazil of adopting high tariffs against American products. In a speech in Florida, the Republican defended expanding import rates on foreign countries as a way to protect industry and US workers.
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“China is a great creator of tariffs. India, Brazil, so many, so many countries. Put rates in foreign countries and people who really want us badly, ”said the US president.
Brazil imposes an average rate of 11.2% on US products, while the United States charge, on average, 1.5% on Brazilian items.
But the commercial relationship between Brazil and the United States is marked by a deficit in the Brazilian balance, according to data from the Ministry of Development, Industry and Commerce.
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In 2024, Brazilian exports to the country totaled US $ 40.3 billion, corresponding to 12% of the total exported by the country, while imports of American products reached US $ 40.6 billion, or 15.5% of total purchases from Brazil.
About $ 40 billion to the US are distributed as follows:
- Steel and iron US $ 5.9 billion
- Oil and derivatives US $ 7.6 billion
- AIRCRAFT US $ 4.5 billion
- Paper and pulp $ 1.7 billion
- Meats US $ 1.4 billion
- Another US $ 17 billion
(Com Reuters)
