Brazil, tariffs
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Trump, Brazil and Tax Cut
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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.
2don MSN
President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there's no agreement by Aug.
America’s biggest trading partners have tried tactics ranging from appeasement to retaliation to avoid higher tariffs. All find themselves faced with similar threats from Washington.
In Kerr County, Trump was greeted by Gov. Greg Abbott, who on Friday announced the federal government updated Trump's disaster declaration to include more counties. Abbott said the move "will provide critical assistance to Texans and communities impacted by the devastating flooding."
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
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.
1don 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.