President Donald Trump delayed the implementation of 50% tariffs on Brazilian exports by seven days while exempting many products from the punishing levy, causing the country’s currency and shares in some major exporters to rally.

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.

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,