Trump’s trade war a boon for Brazil but has US farmers reeling

News Snapshot:

London/Sao Paulo/Beijing | The US and China’s dizzying tariff tit-for-tat has spurred Brazil’s agricultural sector and pummelled American farmers, as Beijing looks to Latin America’s largest economy for a swath of goods from soyabeans to beef. Brazil was a major winner in President Donald Trump’s first trade war with China, dramatically expanding its then-narrow lead over the US as Beijing’s biggest food supplier. It now looks set to pull further ahead, with exports to China already surging before Trump increased his tariffs on the country by 145 per cent and Beijing added levies of 125 per cent. Loading... Financial Times