White House defends tariffs on Brazil
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Trump’s pledge to place a 50 percent tariff on all imports from the South American nation will drive up the prices of coffee — and orange juice.
Kevin Hassett appeared to deflect questions on how the new tariff will benefit America despite the U.S. having a trade surplus with the South American country.
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.
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.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
3don 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.
3don MSN
President Donald Trump is singling out Brazil for import taxes of 50%, citing its treatment of its former president, Jair Bolsonaro.
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.