Brazil's Annual Inflation Ticks Up Before Donald Trump's 50% Tariff Deadline
Updated on
Save
Brazil's inflation edged up in early July as US President Donald Trump threatened to slap the South American nation with punishing tariffs, further complicating the consumer price outlook for the central bank.
Official data released Friday showed consumer prices rose 5.30% in the first two weeks of the month compared to a year prior, just above the 5.28% median estimate from economists surveyed by Bloomberg. Monthly inflation hit 0.33%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
In the news today: Auto industry braces for tariffs, Ottawa to recognize Palestine
Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Auto industry looking for tariff exemptions Automotive industry leaders are hoping to see exemptions for vehicles compliant with the current trade deal as Canada and the U.S. continue discussions ahead of the upcoming tariff deadline. Friday marks the deadline in Canada's trade talks with the U.S., as President Donald Trump has threatened to impose 35 per cent tariffs on a wide variety of Canadian goods if the two countries don't reach an agreement before then. 'I think everybody has seen that the Americans, in spite of the fact that they are fighting us for no reason at all, have shown a tendency to show value for USMCA compliance,' said Flavio Volpe, president of the Automotive Parts Manufacturers' Association. He said roughly 50 per cent of the parts that go into vehicles made in Canada come from U.S. factories. Eby says B.C. insulated from Trump copper tariffs British Columbia Premier David Eby says an incoming 50 per cent United States tariff on some copper products highlights the need for diversified markets. He says the tariffs will affect provinces differently, pointing out that most of B.C.'s copper goes to Asia, keeping the province "insulated" from tariff impact. But he says Ontario and Quebec are "not in a similar" position. Natural Resources Canada says B.C. accounts for almost 46 per cent of mined copper production in Canada. The tariffs announced by the White House on Wednesday, that are to come into effect on Friday, appeared to fall short of some market expectations by exempting copper concentrate, anodes and cathodes that make up a large part of Canada's exports. Canada to recognize State of Palestine Prime Minister Mark Carney announced Wednesday that Canada intends to recognize a Palestinian state at the United Nations in September, as long as the Palestinian Authority holds elections next year. "Preserving a two-state solution means standing with all people who choose peace over violence or terrorism. And it means honouring their innate desire for peaceful coexistence," Carney told reporters on Parliament Hill. He said Ottawa intends to officially recognize the State of Palestine at the UN General Assembly in September. Late Wednesday night, the U.S. president took to his Truth Social platform to share his opinion on the matter. Trump suggested that Ottawa's backing of Palestinian statehood would make it "very hard" for his administration to make a trade deal with Canada. Bail ruling today for 3 accused in extremist plot A judge is scheduled to rule today on whether to grant bail to three men facing terrorism charges in an alleged plot to forcibly seize land in the Quebec City area. Quebec court Judge René de la Sablonnière heard evidence and arguments over three days. Simon Angers-Audet, 24, Raphaël Lagacé, 25, and Marc-Aurèle Chabot, 24, face charges of facilitating a terrorist activity, and other charges related to the illegal storage of firearms and possession of explosives and prohibited devices. There is a publication ban on details of the bail hearing, which heard from an RCMP officer, the three accused and several of their family members. Canadian teen visits Ukraine on humanitarian trip Sixteen-year-old Jaden Braves says he chose to travel to Ukraine and volunteer for a humanitarian aid group operating in a war zone because he thinks young people need to step up when others are suffering. Braves, who is from Toronto and is the founder of the Young Politicians of Canada, was in Kyiv for about two weeks in July. He told The Canadian Press he was there to support the organization Save Ukraine, which organizes rescue missions to return Ukrainian children taken by Russia. "That's kind of pushed me to come to a war zone for the first time," he said. "I think it's about totally humbling yourself and saying that you're prepared to, you know, put yourself at risk for something that you understand is so important to the greater good." A team of experts at Yale University has estimated that as many as 35,000 Ukrainian children may be held in Russia and its occupied territories. 7 people a year drown trying to save others: study A new study says an average of seven people in Canada die each year trying to save another person from drowning. The researchers found that 74 people drowned between January 2010 and December 2019 after attempting a rescue in the water. The study examined 4,535 fatal drownings in that 10-year timeframe and found someone tried to rescue more than half of them. Most of those hundreds of rescuers did not have any lifesaving training, but frequently risked their own lives by trying to grab the drowning person in the water. The Lifesaving Society released the study, first published in the BMJ in June, on Thursday in advance of the August long weekend. --- This report by The Canadian Press was first published July 30, 2025 The Canadian Press
Yahoo
20 minutes ago
- Yahoo
Factbox-Trump tariffs threaten India's export edge; key sectors brace for impact
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -U.S. President Donald Trump on Wednesday slapped 25% tariffs on Indian goods, along with an unspecified penalty tied to energy and defence purchases from Russia — a move that, if enforced, could erode India's export competitiveness and weigh on investor sentiment. India's trade surplus with the U.S. — its largest export market — stood at 1.2% of GDP in 2024. Analysts warn halving that surplus could shave 25–40 basis points off GDP, undermining India's 'safe haven' narrative amid a global slowdown. The relative appeal of Indian markets has also faded, with local equities underperforming peers like Vietnam and Indonesia, which have secured trade pacts with Washington. CLSA said the tariff threat adds to uncertainty in an already expensive market. With negotiations set to resume in mid-August, markets expect the final tariff rate to be lower than 25%. But until clarity emerges, export-linked sectors face significant near-term headwinds. See below for a sector snapshot on who is exposed: PHARMACEUTICALS The U.S. accounts for nearly one-third of India's pharma exports (about $9 billion in FY24). Jefferies estimates a 2–8% EPS hit for Biocon, Sun Pharma and Dr. Reddy's, if generics are included. HSBC warns of an up to 17% downside to FY26 earnings forecasts. TEXTILES Exporters like Welspun Living, Gokaldas Exports, Indo Count and Trident derive 40–70% of sales from the U.S. Higher tariffs could shift market share to Vietnam, which benefits from lower U.S. duties. OIL REFINING A proposed penalty on Russian oil imports could hit Reliance Industries and state-run refiners Bharat Petroleum and Hindustan Petroleum. Companies may face higher costs if forced to diversify crude sourcing. AUTO COMPONENTS Automakers have limited U.S. exposure, but parts makers including Bharat Forge and Sona BLW are Motors' Jaguar Land Rover unit is shielded under U.S.-UK/EU trade arrangements. CAPITAL GOODS & CHEMICALS Cummins India, Thermax and KEI Industries have 5–15% U.S. exposure. Chemical exporters such as Navin Fluorine, PI Industries and SRF may face margin pressure, especially on refrigerant gas exports. SOLAR EQUIPMENT Waaree Energies and Premier Energies count the U.S. as a key market. Nearly 20% of Waaree's FY24 revenue came from the U.S., which also accounts for a major chunk of its 59% overseas current order book. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
What's in the US-EU trade deal depends on who is doing the talking
President Trump and European Commission President Ursula von der Leyen shook hands Sunday over a trade agreement touted as being largely concluded, but days later, there are still plenty of disagreements about exactly what is in the pact. Perhaps nowhere is the divide more stark than in the summaries published by each side — one from the White House and another from the European Commission. They depart in at least five areas, both in terms of the deal and the firmness of the commitments. In just one example, the White House summary touts "historic structural reforms and strategic commitments," while the Europeans call the handshake deal "not legally binding," with more negotiations to come. Trump quipped Sunday that a deal would be "the end of it" and that it would be a number of years "before we have to even discuss it again." That is unlikely to be the case, which even Trump's aides acknowledge. The difference is likely to come to a head quickly as negotiations continue between the US and Europe over legally binding text and as trade watchers wait for a formal joint statement on the deal that the teams still hope to unveil this week. A range of areas of disagreement Clarity on at least one headline area is clear: an agreement for 15% tariffs on nearly all EU goods, including autos, semiconductors, and pharmaceuticals, that will be exempt from separate Trump plans there. But the divides are evident once you go deeper. Commerce Secretary Howard Lutnick acknowledged that a lot remains to be worked out when he told CNBC on Tuesday that "there's plenty of horse trading still to do," even as he argued that the "fundamentals" are set. Read more: What Trump's tariffs mean for the economy and your wallet Trump has also already set a pattern of fuzzy initial details on his deals, including a recent pact with Japan, but a comparison of the two documents summarizing the Europe deal underlines differences on many of the key aspects. On the issue of new investments by Europe — $750 billion in US energy and additional corporate investments of $600 billion — the summary from the US side described them as firm commitments. The European language is much less solid, saying it "intends to procure" additional energy and that European companies "have expressed interest" in additional investments. More differences are seen on whether the deal will mean European markets are "totally open," as Trump has said. The European summary of provisions around fish says they will allow "limited quantities" and only "certain non-sensitive" agricultural products. Another highly touted part of the agreement from the US side is a provision for Europe to purchase military equipment. As Trump said on Sunday, "They're going to be purchasing hundreds of billions of dollars worth of military equipment." That part isn't even mentioned in the European summary. Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices
