Trump, Brazil and 50 tariff
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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.
Brazilian assets face pressure from new US tariffs, but holding broad index trackers may reduce risk amid volatility. See why major Brazilian ETFs are a hold.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
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.
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.
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.
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,