President Trump threatened Brazil with a 50% tariff on all exports due to dissatisfaction with Brazilian political matters and demands related to the judicial system. Economist Paul Krugman labeled these tariffs as "grotesquely illegal," emphasizing that existing international agreements do not support such actions. Krugman noted that Trump's higher tariff proposals suggest a deviation from normal trade policies. Observers speculate that Trump may eventually back down, but Krugman's comments signal an alarming shift in approach towards trade relations with Brazil and other countries.
"First thing that I'm not seeing people realize enough is that all of this is grotesquely illegal. The United States and Brazil have both signed international trade agreements that very specifically give grounds..."
"This time, he's proposing tariffs that are higher than the original ones. This doesn't sound like a guy who's about to go back to normal trade policy."
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