President Trump made a major announcement late yesterday on trade with Brazil. He is threatening 50 percent tariffs on all imports. While his message was largely around political events there, he warned that the trade imbalance has gone on long enough.
President Trump told Brazil’s president that new tariffs rates will begin August 1st. He is also calling on U.S. Trade Representative Jamieson Greer to open an investigation into unfair trade practices.
Brazil is a major trading partner, and some worry that the President’s trade policy might cause retaliation. However, Greer argues that tariffs give the U.S. the upper hand.
Related Stories
Lower shipping costs alone will not restore export competitiveness.
The USDA’s upcoming reports will drop on Tuesday afternoon, giving the trade real results on acreage shifts, drought concerns, and ongoing trade tensions, adding uncertainty for U.S. farmers.
Expanded access could boost demand for U.S. exports.
Brazil logistics issues may support U.S. soybean demand.
Energy risks could reshape global ag trade flows.
The ag trade deficit is narrowing, but export competition remains strong.
