Trump, Brazil and tariff
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5hon 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.
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. One reason: The fairly closed Brazilian economy,
Protestors in Sao Paulo made an effigy of the US president, and then set it on fire. As the paper POTUS went up in flames, they cheered and chanted "Brazil is ours," and "Trump out." The protest was in response to the Trump administration's plan to increase tariffs on imports of Brazilian goods from 10% to 50%.
President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,
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 Luciana Magalhaes and Ricardo Brito BRASILIA (Reuters) -When U.S. President Donald Trump linked 50% tariffs on Brazil to the trial against his ally, the country's former far-right leader, Washington left Latin America's largest economy with few options to deescalate but may have overestimated the country's vulnerability to the levies.
Is Donald Trump willing to punish consumers because he hopes to shield Brazilian President Jair Bolsonaro from legal accountability? Actually, yes.
President Donald Trump will head to Texas for a firsthand look at the devastation caused by catastrophic flooding that has killed at least 120 people, which the administration has characterized as a o