This is John Batchel, conversation with colleague Professor Evan Ellis of the U.S. Army War

College about Liberation Day and the tariffs imposed by the Trump administration on trading partners.

Brazil.

The professor reflects the irony that Brazil benefited the last time there were tariffs from the first Trump administration

because China switched from buying from the U.S.

agricultural products to buying from Brazil.

Will that happen again?

We'll see.

But Brazil did very well in 2019, 2020.

The professor tells me.

Here's Evan Ellis on Brazil, retaliation, reciprocal tariffs, and a benefit.

More of this later tonight.

Well, John, Brazil did incur more wrath on tariffs, but probably is less impacted. And the

important thing is understanding that while Brazil does trade a substantial amount with the

United States, it is not in the position of Mexico where literally 80 percent of Mexico's exports

go to the United States.

And so Brazil, as I understand it, was hit by the 10% across the board tariff that Mexico was

exempted from.

Brazil has been affected in its metals exports by the previous steel and auto tariff.

And indeed, my understanding is the Brazilian legislature is currently putting together

what is expected to be the announcement of some sort of reciprocal, you know,

tariff or response that will probably be coming in the coming days.

...