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.

Brazil's government expects the 50% tariff U.S. President Donald Trump announced earlier this week on all goods from the South American country to have little impact on its economic growth this year,

Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week.

The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.

Brazil's stock market slid on Thursday, but the real rebounded the day after U.S. President Donald Trump's shock move to slap 50% tariffs on Latin America's largest economy rather than the 10% previously indicated,

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.

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By Fabio Teixeira, Ricardo Brito and Luciana Magalhaes BRASILIA (Reuters) -President Luiz Inacio Lula da Silva said he wanted to find a diplomatic solution to U.S. President Donald Trump’s threat of 50% tariffs on Brazilian exports,