Trump threatens to impose 50% tariff on Brazil
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Brazil's government minimizes the projected impact on economic growth from the 50% US tariff threat. While oil remains exempt, other industries like aerospace may feel the pinch. President Lula seeks negotiation with Trump,
The Philippines, Sri Lanka, Algeria, Iraq, Libya, Brunei and Moldova are the latest tariff targets. Read more at straitstimes.com. Read more at straitstimes.com.
Heightened trade tensions between the USA and Brazil - and the prospect of swingeing tariffs - could pose problems for Embraer and US airlines that hold orders for the Brazilian airframer's regional jets.
Brazilian President Lula da Silva threatens retaliatory tariffs against the US if President Trump imposes increased import taxes due to Bolsonaro's trial. Lula aims for negotiation but warns of reciprocal measures.
5hon MSN
SAO PAULO (AP) — President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there’s no agreement by Aug. 1.
Trump cited the trial of the president’s close political ally, former Brazilian President Jair Bolsonaro, as the rationale for new tariffs set to take effect Aug. 1 on imports from the largest economy in Latin America.
Trump slapped a 50% tariff on Brazil, and Brazilian President Luiz Inacio Lula da Silva said his country would respond.