Brazil vows retaliatory tariffs against US
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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.
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.
16hon MSN
The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.
Tensions between the United States and Brazil have suddenly burst open. Brazil’s president promised to reciprocate against President Trump’s tariffs.
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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’s unexpected move to threaten a 50% tariff on Brazil risks roiling global commodity markets, disrupting trade on everything from beef to coffee.
President Donald Trump singled out Brazil for import taxes of 50% on Wednesday for its treatment of its former president, Jair Bolsonaro, showing that personal grudges rather than simple economics are a driving force in the U.
U.S. President Donald Trump said he plans to impose 50% tariffs on all products from Brazil starting August 1, which could have a sharp impact on South America's agricultural powerhouse.