“Donald Trump threatened to impose a 50% tariff on Brazil over its domestic political affairs, the most extreme case yet of the US president weaponizing trade policy to make unrelated demands,” Bloomberg reports.
“Trump’s latest threat, against a nation that sells fewer goods to the U.S. than it buys, risks reinforcing concerns that formal trade agreements may offer limited protection against future tariff hikes.
It also again shows that the rates Trump unveiled in April on “Liberation Day” carry little meaning.”“Trump has previously used tariff threats to accomplish other geopolitical goals. In January, he announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants. He’s also put 20% tariffs on China for its alleged failure to stop the flow of fentanyl to the US, and threatened BRICS nations with higher duties for undermining the dollar.”