Trump’s 50% Tariff on Brazil May Hit Sao Paulo State GDP by 2.7%
Employees work on a Phenom 300 jet on the assembly line at the Embraer SA manufacturing plant in Sao Jose dos Campos, Sao Paulo state, Brazil.
Photographer: Paulo Fridman/Bloomberg
The Brazilian state of Sao Paulo is working on measures to mitigate the impact of potential 50% tariffs on exports to the US set to take effect on Aug. 1, Governor Tarcisio de Freitas said on Saturday.
The duties could affect as many as 120,000 jobs in the region and shrink the state’s economy by as much as 2.7%, Freitas said at an event organized by XP Inc. in Sao Paulo.