President Donald Trump signed an executive order Wednesday to impose his threatened 50% tariffs on Brazil, setting a legal rationale that Brazil’s policies and criminal prosecution of former President Jair Bolsonaro constitute an economic emergency under a 1977 law, the Associated Press reported. Trump had threatened the tariffs July 9 in a letter to President Luiz Inacio Lula da Silva. But the legal basis of that threat was an earlier executive order premised on trade imbalances being a threat to the U.S. economy.

Brazil estimates that 35.9% of its exports to the U.S. by value will be hit by a steep 50% tariff under a new executive order by Donald Trump's administration, Vice President Geraldo Alckmin said on Thursday, emphasizing efforts to reverse the levies on key goods such as coffee, Reuters reported. The estimate confirms earlier reporting by Reuters, with sources saying 44.6% of local products will be subject to the preexisting 10% tariff, while the remaining 19.5% will fall under tariffs the U.S. applies globally, ranging from 25% to 50%.

President Donald Trump on Tuesday threatened to raise tariffs on Indian imports as high as 25% if the allied nations cannot complete a long-sought trade agreement, CNN reported. “They are going to pay 25%,” Trump said. When asked by a reporter if India would pay tariffs of 20% to 25%, Trump said, “Yeah, I think so. India has been – they’re my friends.” US Trade Representative Jamieson Greer told CNBC Monday that an elusive India trade agreement would require more discussion between the two countries.

California-based battery startup Lyten has raised $200 million from existing investors to acquire assets from the bankrupt Swedish manufacturer Northvolt AB, TechinAsia.com reported. This funding will facilitate the restart of production at Northvolt’s factory in Gdansk, Poland. The Gdansk facility, idled earlier this year, will initially resume operations using nickel-based battery cells previously developed by Northvolt. Lyten plans to begin customer deliveries from the plant by the fourth quarter of 2025.

Japan’s central bank policymakers are expected to keep rates on hold this week, even though a trade deal with the U.S. relieves some uncertainty over tariffs and strengthens the case for tighter policy in coming months, the Wall Street Journal reported. The Bank of Japan has been caught this year between the desire to raise rates amid persistent inflation at home and the need to keep borrowing costs low because of economic uncertainty stemming from U.S. tariffs.

India is preparing to face higher U.S. tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline, two Indian government sources said. Instead, New Delhi plans to resume broader trade negotiations when a U.S. delegation visits in mid-August, with the goal of finalising a comprehensive bilateral agreement by September or October, one of the Indian officials told Reuters.

The U.S. struck a framework trade agreement with the European Union yesterday, Reuters reported. The deal, which comes after months of negotiations, imposes a 15% import tariff on most EU goods, which is half the rate U.S. President Donald Trump previously threatened. Trump said the deal calls for $750 billion of EU purchases of U.S. energy in coming years and "hundreds of billions of dollars" of arms purchases. A senior U.S.

A Hong Kong conglomerate that had agreed to sell its two ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal, the Associated Press reported. CK Hutchison Holdings’ initial plan to sell port assets in dozens of countries to a group that includes U.S. investment firm BlackRock Inc. pleased U.S. President Donald Trump, who has alleged that China interferes with the critical shipping lane’s operations in Panama.

Brazil is scrambling to avert punishing 50% U.S. tariffs in a week's time, but high level talks are stalled and U.S. companies are reluctant to confront U.S. President Donald Trump over the issue, officials and industry leaders say, Reuters reported. Trump linked the tariffs, which he has said would come into effect on Aug. 1, to Brazil's treatment of former President Jair Bolsonaro, who is on trial over charges of plotting a coup to stop President Luiz Inacio Lula da Silva from taking office.

The United States may not reach a negotiated trade deal with Canada, U.S. President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally, Reuters reported. Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada.