Posted on 07/11/2025 9:40:31 AM PDT by SeekAndFind
Lula doesn’t seem to realize that Brazil already has a 60 percent tariff on American goods and almost all foreign goods. It is divided into 3 separate tax regimes, but if you get caught at an airport with an iphone still in the box it will cost you a $1000 fine/tariff imposition.
Duties are II, IPI and ICMS, they add up to 60 percent.
https://www.trade.gov/country-commercial-guides/brazil-import-tariffs
So?
“At this point in time what possible difference could this make?”
“I didn’t realize Brazilians were wealthy and bought US goods?”
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The trade currently between the US and Brazil is very close to even between the two. There’s no economic reason for Trump’s action now, he just wants to leverage his ability to impose tariffs on Brazil because his buddy Bolsonaro is being held to account for his apparent violations of Brazilian law.
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