Brazil, Donald Trump
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Trump, tariffs
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5hon MSN
Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
Trump’s proposed 50% tariff on Brazilian imports could raise costs for Starbucks, Dutch Bros, and others as coffee prices face renewed upward pressure.
While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.
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,
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.
The U.S. dollar rose on Friday, fuelled by upheavals on the global trade landscape, as U.S. President Donald Trump announced more import tariffs, ranging from 35% on neighbouring Canada to plans for blanket levies of 15% or 20% on most trading partners.
President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States’ biggest trade partners in letters posted to his social media account.