Brazil, Donald Trump and Trade War
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35mon MSN
President Donald Trump’s threat to boost import taxes by 50% over Brazilian goods could drive up the cost of breakfast in the United States.
Right-wing Brazilians wanted sanctions against the judge prosecuting Brazil’s former president. President Trump opted for something far bigger — tariffs.
Brazil's government on Friday downplayed the impact of the 50% tariff U.S. President Donald Trump threatened to impose on imports from that country, as leaders from both nations expressed a cautious willingness to negotiate in the future.
Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%.
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The proposal is a blow to U.S. meat companies also facing tighter cattle supplies due to a halt of livestock imports from Mexico over New World screwworm, a flesh-eating pest spreading south of the border.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part because of the treatment of its former president Jair Bolsonaro, his political ally.
President Donald Trump sent out a slew of letters Wednesday to some global trading partners, advising them of tariff levels as high as 50% for their exports to the United States.
19hon MSN
The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.
Brazil's stock market was dragged lower by its financial sector on Thursday while the real currency rebounded, a day after U.S. President Donald Trump's shock move to slap 50% tariffs on imports from Latin America's largest 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.