Reported 2 days ago
Donald Trump has threatened to increase tariffs on Brazilian goods to 50%, causing the Brazilian real to plummet and impacting the country's financial markets. This decision escalates tensions with Brazil amid political controversies, particularly involving former President Jair Bolsonaro. Brazilian President Luiz Inacio Lula da Silva responded firmly, asserting Brazil's sovereignty and indicating that the country would reciprocate such unilateral tariff hikes. The move threatens to strain long-standing U.S.-Brazil relations, potentially harming various Brazilian industries reliant on exports to the U.S.
Source: YAHOO