The Trump administration on July 30 issued an Executive Order that places 50% tariffs on numerous items exported from Brazil in seven days. However, In the official tariff order, the Administration stated civil aircraft, their engines, parts and components and other components and subassemblies are exempt from the levies.

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,