Brazil tees up tariff retaliation, but president hopes to reach a deal with the U.S.

In the wake of the Trump administration’s new tariff regime, Brazil has enacted a “reciprocity” bill that would allow the country to impose tariffs and suspend intellectual property rights in response to foreign policies that harm its exports – though Brazil’s president says he hopes his country can first strike a deal with the U.S. without imposing new duties. President Trump earlier this month announced “reciprocal” tariffs on dozens of countries and a baseline tariff of 10 percent. The U.S...