Trump, Brazil
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The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
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.
The pause on the biggest of Trump's tariffs won't end this week, as planned, but the problems they present still loom large.
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
Economist Peter Schiff cautioned that President Trump’s latest tax and spending package could harm the U.S. economy more than it helps. He argued that the tax cuts, which add to budget deficits, won’t stimulate economic growth but will instead lead to higher long-term interest rates and inflation.
Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.
18hon MSN
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.
While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.