CoinVoice has recently learned that the Brazilian mining industry warns that if the government takes retaliatory tariff measures in response to U.S. President Trump's threat to impose a 50% tariff starting August 1, it will have severe economic consequences.

Raul Jungmann, head of the Brazilian Mining Association (Ibram), stated that if Trump follows through on his threat and Brazil takes such countermeasures, the mining sector could face additional costs of up to $1 billion per year. Brazilian mining executives are considering engaging in dialogue with U.S. companies to encourage the Trump administration to return to the negotiating table.[Original link]