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Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week.
The next major U.S. inflation report is set to arrive on Tuesday in the form of the consumer-price index for June, and will inform investors as to whether President Donald Trump’s tariff wars with other countries have had a sizable impact on inflation.