Trump, Brazil and tariff
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President Donald Trump’s threat to boost import taxes by 50% over Brazilian goods could drive up the cost of breakfast in the United States
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,
President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,
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Investor's Business Daily on MSNDow Jones Futures: Stocks Hold Up Amid Trump Tariffs, But Growth Woes Worrisome; Google, AMD Near Buy PointsThe stock market fell for the week but held near highs amid Trump tariffs. Inflation and earnings reports will be in focus. Google and AMD are near buy points.
Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.
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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.
The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.