Trump targets Brazil with a 50% tariff
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President Donald Trump is singling out Brazil for import taxes of 50%, citing its treatment of its former president, Jair Bolsonaro.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
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.
14hon MSN
President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.
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.
The U.S. dollar was higher on Thursday as markets took U.S. President Donald Trump's latest tariff salvos in their stride, except in Brazil where a threatened 50% levy sent the real sliding. The dollar had been knocked back by a sharp decline in U.