Brazil not giving in to Trump’s pressurepublished at 16:21 British Summer Time
Ione Wells
Reporting from Sao Paulo, Brazil
Brazil’s government has indicated to reporters that it will announce some contingency measures next week to help businesses cope with the 50% tariffs that Trump has imposed.
Some products like orange juice and some oil, already subject to sectoral tariffs, are exempt. But some of Brazil’s biggest exports like beef and coffee will still be hit. Brazil is the biggest exporter of coffee, and the US gets about a third of its coffee from here.
Brazil’s finance minister Fernando Haddad told journalists that the government is finalising figures, including the amounts needed to help affected companies, but that spending would comply with local fiscal rules.
This is yet another sign that Brazil is not giving in to the pressure Trump is trying to exert – which is political, not economic.
The US sells more…
