Goldman Sachs: Brazil's retaliatory tariffs on the United States could lead to greater losses

Golden Finance reports that Goldman Sachs analyst Alberto Ramos expects Brazilian exporters to urge President Lula to avoid retaliation against Trump's promised 50% tariffs. Trump stated that the tariffs will be implemented starting next month. Ramos estimates that the tariff could reduce Brazil's GDP growth rate by 0.3 to 0.4 percentage points, and taking retaliatory measures could further worsen the impact on economic activity and inflation. It is currently unclear whether Brazil will retaliate, how and when, "he said.