Trump, Brazil
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Trump, Tariff and Stocks
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National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories.
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.
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
When U.S. President Donald Trump linked 50% tariffs on Brazil to the trial against his ally, the country's former far-right leader, Washington left Latin America's largest economy with few options to deescalate but may have overestimated the country's vulnerability to the levies.
President Donald Trump has been sending letters to countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1.