President Trump may be threatening Brazil with tariffs over a political matter involving former president Jair Bolsonaro. CBS MoneyWatch correspondent Kelly O'Grady reports.
BreakdownGenerated by LeadStory AI
- The Trump administration sent a letter to Brazil threatening a 50% tariff, citing political concerns over the investigation of former president Jair Bolsonaro. 7s
- President Trump accused Brazil of conducting a 'witch hunt' against Bolsonaro and demanded it end. 11s
- Brazil has stated it will reciprocate if tariffs are imposed, potentially affecting trade in fuel, machinery, plastics, rubber, and coffee. 35s
- The U.S. has a trade surplus with Brazil, so American businesses could also be impacted by retaliatory tariffs. 1m 24s
- Federal Reserve officials are divided on the economic impact of tariffs, creating uncertainty for business investment. 2m 12s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.