Brazilian companies reacted with a mix of relief and doubt after the White House surprised them on Wednesday with a list of nearly 700 exceptions to the 50% tariff U.S. President Donald Trump imposed on the country's exports from August 6.

Trump has set a whopping 50% tariff on Brazilian goods - the highest rate levied by the US on a country thus far.

The additional 50% tariff that the United States will impose on Brazilian imports starting Aug. 6 will only affect 35.9% of sales, meaning it will have a much lower impact than initially expected. Thanks to the nearly 700 exceptions that the US included in the tariff increase