Trump, Brazil and tariff
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Right-wing Brazilians wanted sanctions against the judge prosecuting Brazil’s former president. President Trump opted for something far bigger — tariffs.
2don MSN
One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.
Money managers from Aberdeen Group Plc to Franklin Templeton are staying bullish on Brazil, betting the country will withstand its unexpected turn in the epicenter of Donald Trump’s trade war. One reason: The fairly closed Brazilian economy,
Brazil believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.
Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.
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Trump’s proposed 50% tariff on Brazilian imports could raise costs for Starbucks, Dutch Bros, and others as coffee prices face renewed upward pressure.
Protestors in Sao Paulo made an effigy of the US president, and then set it on fire. As the paper POTUS went up in flames, they cheered and chanted "Brazil is ours," and "Trump out." The protest was in response to the Trump administration's plan to increase tariffs on imports of Brazilian goods from 10% to 50%.
President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,