Trump, Brazil and Tariff
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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 50% tariff that the Trump administration has slapped on Brazilian imports has rattled the global coffee market and could make the price of a cup of coffee in the U.S. jump beyond recent highs.
President Donald Trump on Wednesday levied a 50% tariff against Brazil, which produces more than a third of the world's coffee, citing, in part, the country's treatment of former President Jair Bolsonaro,
President Luiz Inacio Lula da Silva insisted Brazil can survive without trade with the US and will look to other partners to replace it, a sharp response to Donald Trump after the American leader threatened 50% tariffs against the nation.
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.
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Is Donald Trump willing to punish consumers because he hopes to shield Brazilian President Jair Bolsonaro from legal accountability? Actually, yes.
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.
President Donald Trump has again delayed a tariff deadline. His back and forth on the policy spurred TACO accusations. What does it mean?