President Donald Trump announced a sweeping 50% tariff on Brazilian imports, citing political persecution of former President Jair Bolsonaro and rising concerns over digital censorship.
The move marks a significant escalation in U.S.–Brazil tensions, with Trump calling Brazil’s handling of Bolsonaro’s legal troubles “an international disgrace.”
In a sharply worded letter posted to his Truth Social platform, Trump criticized Brazilian President Luiz Inácio Lula da Silva for what he described as a politically motivated trial targeting Bolsonaro. Referring to the former leader as a friend and political ally, Trump asserted that the case against Bolsonaro—who faces charges for allegedly attempting to overturn his 2022 election defeat—should not be proceeding.
Trump’s letter also condemned Brazil’s recent moves to regulate online platforms. He cited a ruling by Brazil’s Supreme Court that holds social media companies liable for user content, and pointed to the temporary ban of Elon Musk’s X platform last year as evidence of an “insidious attack” on free speech. The former U.S. president framed the issue as not just domestic censorship, but a violation of the rights of Americans online.
In addition to political concerns, Trump’s letter accused Brazil of maintaining protectionist trade policies and unfair barriers that have hurt American exporters. Despite U.S. trade data showing a $7 billion surplus with Brazil in 2024, Trump insisted the relationship lacked reciprocity and was “far from a level playing field.”
He warned that the newly imposed 50% tariff could be raised even higher if Brazil chooses to retaliate. As with previous tariff announcements aimed at other countries, the White House framed the decision as a defense of American industry and democratic principles.
The sharp tariff increase on Brazil adds to a growing list of international economic actions by Trump’s administration ahead of the August 1 global trade deadline.
As cryptocurrency adoption accelerates worldwide, so too does the frequency and sophistication of online threats. Richard Teng, CEO of Binance, has sounded a clear warning: the safety of digital assets hinges not just on exchange security but also on individual user responsibility.
Ripple has chosen global banking giant BNY Mellon to act as the primary custodian for reserves backing its enterprise-grade stablecoin, Ripple USD (RLUSD).
Goldman Sachs now expects the Federal Reserve to begin cutting interest rates sooner than previously anticipated, forecasting the first reduction as early as September 2025.
Lithuania’s central bank has reached out to Robinhood for further details regarding its newly launched stock token products, following a public distancing by OpenAI from the initiative.