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Benzinga
Benzinga
Business
Vishaal Sanjay

Republicans Join Democrats To End Trump's Brazil Tariffs Amid Soaring Coffee, Beef Prices — Elizabeth Warren Calls Levies 'Chaotic'

United,States,Tariffs,Government,Import,Taxation,to,Increase,The,American,Economy.industrial

The U.S. Senate passed legislation on Tuesday, overturning President Donald Trump’s tariffs on Brazil by terminating the national emergency declared in July to justify the move.

Senate Democrats Slam ‘Bogus Emergency Declarations’

The Senate narrowly passed the bill, voting 52-48 in favor, with five Republican lawmakers, Sen. Susan Collins (R-Maine), Sen. Mitch McConnell (R-Ky.), Sen. Lisa Murkowski (R-Alaska), Sen. Rand Paul (R-KY) and Sen. Thom Tillis (R-N.C.) crossing party lines to back the bill, according to a Reuters report.

Senate Democrats have framed the move as a pushback against the “bogus emergency declarations” used by Trump to justify certain tariff decisions in recent months.

See Also: Ronald Reagan ‘Didn’t Love Tariffs,’ Says Economist Paul Krugman: He Repeatedly Emphasized ‘The Virtues of Free Trade’

In July, Trump imposed sweeping 50% tariffs on imports from Brazil, citing the trial of former Brazilian President Jair Bolsonaro, which he called “a Witch Hunt that should end IMMEDIATELY,” while accusing the nation of “insidious attacks on Free Elections.”

This marks the first of three tariff-related bills expected in the Senate this week, including measures to overturn Trump’s tariffs against Canada and several other countries worldwide.

Trump’s ‘Chaotic Tariffs’ Blamed For Soaring Prices

On Tuesday, in a post on X, Sen. Elizabeth Warren (D-Mass.) placed the blame for rising coffee and ground beef prices squarely on Trump’s “chaotic tariffs on Brazil.”

“I voted to repeal these tariffs along with every Democrat and a few Republicans,” she said, confirming that the measure has passed the Senate.

“All eyes now on House Republicans, who are still on vacation,” she said, since the bill will now be sent to the Republican-controlled U.S. House of Representatives, where it is expected to be shelved, like several other legislations aimed at ending Trump’s tariff regime.

Warren has repeatedly criticized Trump for the rising domestic coffee prices, following the latter’s decision to impose tariffs on Brazil and Colombia, which together account for 80% of the nation’s coffee imports.

Brazil Trade Agreement Set To Be Finalized

Brazil's President Luiz Inacio Lula da Silva announced this week that the trade agreement between the two nations could be finalized “faster than anyone thinks.”

Lula also expressed his willingness to work with Trump on the escalating tensions in Venezuela, citing Brazil’s strategic position and significance in Latin America. This development comes following a friendly call between the two leaders earlier this month.

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Photo: Miha Creative via Shutterstock

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