Trump Threatens 50% Tariff on Brazil
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Brazil scrambled to craft a measured but strong response to US President Donald Trump’s surprise tariff hike on Thursday in hopes of shielding key industries, while analysts predicted the tariffs would drive the country closer to China.
The president's statement comes as the trading bloc including Brazil, Russia, India, China, and South Africa (BRICS) is meeting in Rio de Janeiro this week.
President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
Malaysia pursues an independent foreign and economic policy and is focused on trade facilitation rather than ideological alignment, Malaysia's trade ministry said.
The move injects fresh turmoil into a strained bilateral relationship as Prime Minister Mark Carney negotiates a new economic partnership with the United States.