(Forelines) – The United States exempted numerous of Brazil’s main exports from the 50% tariff U.S. President Donald Trump signed into an executive order on Wednesday, comprising of orange juice, some aircraft, wood pulp and energy products, shares of planemaker Embraer and pulpmaker Suzano were lifted, according to Reuters report.
The U.S. administration linked the duties to Brazil’s prosecution of former President Jair Bolsonaro, who is on trial for allegedly planning a coup to overturn his 2022 presidential defeat, in a fact sheet released on Wednesday, as per the report.
However, dozens of important Brazilian exports to the US were left out of the presidential order. Aircraft manufactured by Embraer (EMBR3.SA), which sells 70% of its executive jets and 45% of its commercial aircraft to the United States, were one of the main priorities in administration of President Luiz Inacio Lula da Silva, as per Reuters.
Additionally, analysts had cautioned about a significant possible impact on Suzano (SUZB3.SA), one of the biggest manufacturers of wood pulp worldwide, added in a report.
According to Reuters, in Sao Paulo, Embraer’s stock increased by 11%, while Suzano’s stock increased by more than 1% during afternoon trade.
The executive order was issued concurrently with the United States imposing penalties on a Brazilian Supreme Court justice presiding over Bolsonaro’s trial, alleging that the court had permitted arbitrary detentions prior to trial and stifled free speech.