@realdonaldtrump/Truth Social
Trump unveils 50% tariff on Brazil over prosecution of its ex-president. In his latest round of tariff demand letters, President Trump said he plans to slap a 50% tariff on Brazilian imports as of Aug.1, partly because of its prosecution of its former President Jair Bolsonaro for an alleged coup attempt, which Trump called a “witch hunt.” The president also cited a “very unfair trade relationship” between the countries in opting for a much higher tariff than he initially announced in April. Brazil’s current president said the government would respond with reciprocity. President Trump also sent letters threatening tariffs of between 20% and 40% to at least seven more countries yesterday.
US measles cases have reached a 33-year high. A little more than halfway into 2025, the US has reported 1,288 measles cases, marking the highest yearly total since 1992, according to data from the Centers for Disease Control and Prevention. An outbreak in Texas contributed to both the high number of cases and the first measles-related US deaths in a decade, though cases have been reported in 39 states. The US declared measles eliminated in 2000, but cases have been spiking as vaccination rates have waned. Of the people in the US infected this year, 92% were unvaccinated or had an unknown vaccination status.
Fed officials are divided over when to cut rates. The Federal Reserve released the minutes from its June meeting, and the good news is that the majority of its officials see interest rate cuts coming this year. But other than that, they agree about as much as feuding contestants on Love Island—the minutes show officials have differing opinions over how many times they’ll do it and when they should start, even as the president has ramped up pressure for lower rates. Although some officials remained concerned that tariffs may spur inflation, the tally shows 10 committee members expect two or more cuts, two expect just one, and seven anticipate none.—AR
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