USA Publishes List of Countries with Raised Tariffs on Goods

The tariff war initiated by Donald Trump continues. The White House has published long lists of countries on whose goods the increased customs duties are imposed.

Tariffs of 30% are being introduced against Libya, Algeria, and Iraq. Moldova will face tariffs of 25%, and the Philippines – 20%. However, the most notable decision by the White House is the imposition of 50% tariffs against Brazil. Possibly, such an extraordinarily high figure is the result of Trump’s recent threat to raise tariffs on all BRICS countries. If that’s the case, it would undoubtedly be a proverbial shot in the foot.

Even tariffs solely on Brazil threaten problems for the United States: the country produces the lion’s share of the planet’s soy, corn, and bioethanol. But if increased tariffs are also introduced against other BRICS nations, it could turn into a pricing catastrophe for the U.S.: goods from India and China could become more expensive by dozens of percent.