Brazil’s $3 billion trade surplus with Iran risks making it a target of US tariffs, potentially reversing a recent rapprochement between Brasília and Washington.
US President Donald Trump this week threatened 25% levies on any country doing business with Iran, pledging support for widespread anti-government protests that have gripped the country for days. Last year, the US leader threatened 50% tariffs on Brazil in response to what he said was the unfair prosecution of former Brazilian president and Trump ally Jair Bolsonaro.
But after meeting his Brazilian counterpart, Trump changed course, easing levies on Latin America’s biggest economy. Now, however, Brazil’s multi-billion dollar agricultural trade with Tehran could land it back in Washington’s crosshairs, Reuters reported.