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 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.

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.

Brazil’s President forcefully rebuked Trump after the U.S. leader called the prosecution of Lula’s predecessor, Bolsonaro, a “witch hunt” and hiked tariffs on the Latin American nation.

Brazil's finance ministry raised its forecast for economic growth this year, while projecting a slight slowdown in 2026 in face of the central bank's tight monetary policy, a report showed on Friday.

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

Trump pledged to impose tariffs on Brazil at a rate as high as 50%. He accused the country of "attacks" on US tech companies and of conducting a "witch hunt" against the far-right former President Jair Bolsonaro, a longstanding ally who is facing prosecution over his alleged role in a plot to overturn the 2022 Brazilian election.

A combination of Roman culinary tradition and South American ingredients yields a very filling meal at this new restaurant.