Trump Imposes 50% Tariff on Brazil
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The Trump administration threat of a 50% tariff on all Brazil imports will hit a variety of American companies. That includes coffee chain Starbucks, which imports a lot of coffee beans from Brazil.
President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.
President Donald Trump’s plan to hit Brazil with a 50% import tax on Aug. 1 threatens to increase prices for coffee and orange juice, two of the South American country’s key products.
President Trump is threatening Brazil with a 50% tariff, citing a "witch hunt" against the country's ex-President Jair Bolsonaro. NBC News Business and Data Correspondent Brian Cheung reports more. CNBC Senior Analyst and Commentator Ron Insana joins Chris Jansing to break down the economic impact on Americans.
Sao Paulo-traded shares of Embraer tumbled as much as 8% on the news, before paring some losses to trade down 5%. Embraer was the biggest decliner on Brazil's Bovespa benchmark stock index, which slipped 0.7%.
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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.
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Donald Trump said he plans to impose a 50% tariff on imports from Brazil. Questions about the future of FEMA loom amid the Texas floods. And "Superman" becomes a political flashpoint ahead of the new movie's release.
Brazil believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.