Earlier today, Trump indicated that tariffs were coming on Brazil either later today or tomorrow. So far we haven’t seen them but on Liberation Day, Brazil was hit with a 10% tariff.
The US has a goods trade surplus with Brazil, which is what VP Alckmin is referring to. Nevertheless, it appears they’ve fallen under the gaze of Trump who just seems to like tariffs for their own sake at this point.
This article was written by Adam Button at www.forexlive.com.