Brazil, Trump and tariffs
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As Brazil’s Luiz Inacio Lula da Silva and Donald Trump trade blows, the person they are fighting over has sent mixed signals to investors trying to divine who will blink first.
"I’ll be watching the WITCH HUNT of Jair Bolsonaro, his family, and thousands of his supporters, very closely," Trump stated. "The only Trial that should be happening is a Trial by the Voters of Brazil — It’s called an Election." Here are five things to know about both men and their kinship.
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.
President Donald Trump pledged a 50% tariff on Brazil, accusing the country of carrying out a "witch hunt" against its former president.
"It's certainly possible that one of the impacts of tariff hikes is we'll see an increase in supplier bankruptcies in 2025 and 2026," a source told Newsweek.