Uncertainty Over Tariffs Halts Oil Shipments From Brazil to US, Says Lobby Group
Energy companies operating in Brazil suspended oil shipments to the United States after President Donald Trump announced 50% tariffs against the South American country, Roberto Ardenghy, president of oil lobby group IBP, told Reuters on Wednesday.
Oil is Brazil's top export to the U.S. and was exempt from the 10% April tariff imposed on Brazilian exports, but it is unclear whether the commodity will remain exempt under the new 50% tariff set to come into effect on Friday.
"This time we have no way of knowing," said Ardenghy. IBP represents...
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