Trump, copper and a tariff
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President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part due to the treatment of its former president and his political ally, Jair Bolsonaro.
Brazil's financial markets looked set for a bumpy start on Thursday, with traders still trying to grasp U.S. President Donald Trump's shock move to slap 50% tariffs on Latin America's largest economy rather than the 10% previously indicated.
The levy is the highest announced so far in Trump’s letters to world leaders this week, and comes after he wrote a lengthy message supporting the former Brazilian leader.
The exchange with the South American nation suggests the U.S. president also sees trade as a tool to influence other policies of foreign countries.
Scavino is the third top official who, along with two others, sold Trump Media stock with the combined value of up to $10 million before tariffs news
1hon MSN
Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.
US President Donald Trump unveiled a new round of tariff demand letters on Wednesday, including a 50% rate on Brazil, one of the highest so far announced for the levies which are set to hit in August.
19hon MSN
In a series of social media posts, President Donald Trump revealed higher tariff rates for six more countries as part of his ongoing "reciprocal" tariff policy based on bilateral trade deficits.
Trump announced a 50 percent tariff on all Brazilian goods, escalating a feud over Brazil’s prosecution of former president Jair Bolsonaro. Brazil vowed to retaliate.
1don MSN
U.S. Commerce Secretary Howard Lutnick said Tuesday that another batch of tariff letters was close to going out, followed by “a general letter” that would cover trading partners that didn’t get their own missives.
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