The 50 per cent tariffs President Donald Trump imposed on Brazil last week are among the highest he has applied on any country thus far in his trade wars.
唐纳德•特朗普(Donald Trump)总统上周宣布对巴西征收50%的关税，这是他在他发动的贸易战中迄今对任何国家征收的最高关税之一。
The reason had nothing to do with Brazil’s trade policies. In fact the US runs a surplus with Brazil. Instead, Trump is using trade policy to make political demands. He wants Brazilian authorities to drop charges against former president Jair Bolsonaro, who is accused of plotting a coup after losing the 2022 election.
原因与巴西的贸易政策无关。事实上，美国对巴西保持着贸易顺差。相反，特朗普正在利用贸易政策提出政治要求。他希望巴西有关部门撤销对该国前总统雅伊尔•博索纳罗(Jair Bolsonaro)提出的刑事指控，后者被控在2022年大选失败后策划政变。
Yet despite the escalating tension — with Brazil’s current president Luiz Inácio Lula da Silva accusing Trump of infringing on the country’s sovereignty — Brazilian assets are barely flinching. The real is still up nearly 13 per cent against the greenback this year. The country’s benchmark Ibovespa stock index, home to oil major Petrobras and mining company Vale, is hanging on to an 11 per cent gain.
然而，尽管紧张不断升级——巴西现任总统路易斯•伊纳西奥•卢拉•达席尔瓦(Luiz Inácio Lula da Silva)指责特朗普侵犯该国主权——巴西资产却几乎没有出现波动。雷亚尔相对于美元今年迄今累计仍走高近13%。该国基准股指Ibovespa（其成分股包括石油巨头巴西石油公司(Petrobras)和矿商淡水河谷(Vale)）保持11%的涨幅。