
Brazil scrambled to craft a measured but strong response to US President Donald Trump’s surprise tariff hike on Thursday in hopes of shielding key industries, while analysts predicted the tariffs would drive the country closer to China.Trump sent a letter to President Luiz Inácio Lula da Silva on Wednesday confirming that Brazilian exports would face 50 per cent duty starting August 1.
He claimed the measure would punish what he called “unfair trade barriers” and political “persecution” of...