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Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%.
Prices of clothing and shoes are expected to be particularly impacted by the tariffs, Yale University’s Budget Lab found.
The president has published just 22 letters, many to minor trading partners like Brunei, Moldova and Sri Lanka.
Vietnam was the first in Asia to strike a deal, but it has little leverage against Washington, and is now facing levies up to 40%. The same goes for Cambodia. A poor country heavily reliant on exports, it has been negotiating a deal as Trump threatens 35% tariffs.
Price increases could hit coffee, shoes, appliances and other products as a result of President Donald Trump’s new tariffs in recent days, analysts told ABC News.
President Trump’s ever-swerving tariff regime has taken more sharp turns this week.On July 7, his administration pushed back some of its most punishing duties by three more weeks to August, following a 90-day delay.
Brazil’s annual inflation ticked up further above target as US President Donald Trump rattled Latin America’s largest economy with plans to impose 50% tariffs on all its goods and services. Official data released Thursday showed consumer prices accelerated to 5.
Scavino and two other top officials sold Trump Media stock with a combined value of up to $10 million before tariffs news
Price increases could hit coffee, shoes, appliances and other products following a flurry of tariffs issued by President Donald Trump in recent days, analysts told ABC News. Trump slapped tariffs as high as 50% on dozens of countries,
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
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