US Launches Trade Investigation Against Brazil
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SAO PAULO (AP) — Brazil’s former President Jair Bolsonaro has been ordered to wear an ankle monitor, authorities said on Friday, in a move he described as “a supreme humiliation.” The development came as federal police conducted searches at his home and his party’s headquarters in Brasília, in compliance with a Supreme Court order.
While some evidence shows tariffs are pushing up prices for consumers, the economy appears to be mostly healthy.
Brazilian President Luiz Inácio Lula da Silva has hit back at Donald Trump’s tariff threats, saying that his American counterpart was elected as the leader of the United States and “not to be the emperor of the world.
The fight is rooted in years of political history between President Trump and the last two presidents of Brazil.
Nobel Prize-winning economist Paul Krugman believes tariffs President Trump has threatened to impose on countries, including Mexico and Brazil, are here to stay and will cost U.S. consumers.
Police in Brazil swooped on the home and political headquarters of Jair Bolsonaro early Friday, searching the properties, ordering the former president to wear an electronic ankle tag, barring him from speaking to foreign officials or approaching embassies and prohibiting him from using social media.
Kevin Hassett, a top economic advisor to President Trump, was out defending the administration's threat of a 50% tariff on imports from Brazil. The U.S. has a trade surplus with Brazil, in contrast to
Facing growing chaos, the European Union and numerous other countries are seeking to forge a global trading nexus that is less vulnerable to American tariffs.