US Launches Trade Investigation Against Brazil
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Brazilian President Luiz Inacio Lula da Silva fiercely criticized the United States on Thursday over new tariffs set by President Donald Trump, calling the move unacceptable blackmail and vowing to defend
The fight is rooted in years of political history between President Trump and the last two presidents of Brazil.
Nobel Prize-winning economist Paul Krugman believes tariffs President Trump has threatened to impose on countries, including Mexico and Brazil, are here to stay and will cost U.S. consumers.
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,
Facing growing chaos, the European Union and numerous other countries are seeking to forge a global trading nexus that is less vulnerable to American tariffs.
"It’s all going to be the same for everyone," the president told reporters of the U.S. duty those countries will face.
The Southeast Asian nation was facing a 32% tariff on goods exported to the US, which has now been reduced to 19%.
Right-wing Brazilians wanted sanctions against the judge prosecuting Brazil’s former president. President Trump opted for something far bigger — tariffs.