Trump, Brazil and tariff
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For most world leaders, tariff letters from US President Donald Trump mean a big headache. But for one Southeast Asian general, the communique is being spun as welcome recognition of the embattled, isolated and reviled junta he leads.
18hon 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.
Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.
Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.
Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.
The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.
US stocks fell on Friday after President Donald Trump threatened a 35% tariff on Canada — a sharp escalation in an ongoing trade war. The Dow closed lower by 279 points, or 0.63%. The broader S&P 500 fell 0.
Canada would bear the brunt of Trump's tariffs in terms of economic contraction, says The Budget Lab of Yale.