Goldman Sachs: Brazil's retaliatory tariffs on U.S. could lead to greater losses
Online reports that Goldman Sachs analyst Alberto Ramos expects Brazilian exporters to urge President Lula to avoid retaliation for Trump's promised 50% tariffs. Trump said the tariffs will be implemented next month. Ramos estimates that the tariff could reduce Brazil's GDP growth by 0.3 to 0.4 percentage points, and retaliatory measures could further exacerbate the impact on economic activity and inflation. "It is unclear whether Brazil will retaliate, how and when," he said.
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