Trump threatens Brazil with 50% tariff
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Levi Strauss issued a rosy outlook for the duration of the year but the jeans maker could see costs rise as President Donald Trump continues to raise tariffs.
U.S. President Donald Trump said he plans to impose 50% tariffs on all products from Brazil starting August 1, which could have a sharp impact on South America's agricultural powerhouse.
7hon MSN
One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.
Brazil’s leftwing president is standing firm against Donald Trump’s 50 per cent tariff threat, as Luiz Inácio Lula da Silva seizes the confrontation with Washington to revive his re-election prospects.
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Levi Strauss raised its annual revenue and profit forecasts after beating quarterly estimates on Thursday, betting on strong demand for its denims in regions such as Europe in the face of tariff uncertainty.
President Donald Trump put Brazilian politics front-and-center Wednesday in a letter declaring a new 50% tariff on U.S. imports from the Latin American nation set to begin Aug. 1, citing mistreatment of longtime ally and former Brazilian President Jair Bolsonaro.
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The "Big Beautiful Bill" will boost S&P 500 performance short-term, but rising deficits and inflation risks will erode real returns over the next decade. Massive deficit increases—potentially $4 trillion in a decade—make bonds unattractive, as higher yields will be needed to absorb new debt issuance.
The levy is the highest announced so far in Trump’s letters to world leaders this week, and comes after he wrote a lengthy message supporting the former Brazilian leader.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.