The additional 50% tariff that the United States will impose on Brazilian imports starting Aug. 6 will only affect 35.9% of sales, meaning it will have a much lower impact than initially expected. Thanks to the nearly 700 exceptions that the US included in the tariff increase

Brazil President Luiz Inacio Lula da Silva’s defiant response to Donald Trump’s 50% tariff threat was validated Wednesday — at least in the short term — with markets and businesses breathing a collective sigh of relief at the long list of exemptions to the levies.

U.S. President Donald Trump on Wednesday slapped a 50% tariff on most Brazilian goods to fight what he has called a "witch hunt" against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft,