Brazil Assets Plunge After Trump Hikes Tariff Rate to 50% (3)

Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva.

In a letter posted to his social media account, Trump cited Jair Bolsonaro — the right-wing former president and Lula rival who is facing a trial on charges that he attempted a coup following his 2022 election defeat.

Trump made a direct link to politics, saying he was making the change “due in part to Brazil’s insidious attacks on Free Elections, and ...