Brazil, Donald Trump and tariff
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SAO PAULO (AP) — President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there’s no agreement by Aug. 1.
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One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
Business leaders and experts say the uncertainty from President Trump's tariff policies are making it difficult to run operations.
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Canadian Prime Minister Mark Carney said his country would continue to work toward a new trade framework with the U.S.
Starbucks Could Take a Hit From 50% Brazilian Tariffs. The Cost of Coffee Beans Will Rise. The Trump administration threat of a 50% tariff on all Brazil imports will hit a variety of American companies. That includes coffee chain Starbucks, which imports a lot of coffee beans from Brazil.
Money managers from Aberdeen Group Plc to Franklin Templeton are staying bullish on Brazil, betting the country will withstand its unexpected turn in the epicenter of Donald Trump’s trade war. One reason: The fairly closed Brazilian economy,