Trump Drags the US Toward Financial Crisis All To Protect His Bestie, Disgraced Tyrant Jair Bolsonaro Arrow

In response to Donald Trump putting Brazil's former president Jair Bolsonaro above the American people, DNC Rapid Response Director Kendall Witmer released the following statement:

"Donald Trump promised to put America first, but instead, he's destroying the entire U.S. economy in exchange for a political favor for his bestie, a disgraced foreign tyrant. Because of Trump's impulsive trade war, the American people are drowning in sky-high costs and cutting back on basic necessities. The bottom line: Trump will throw working families under the bus any chance he gets, even to help another wannabe dictator."

NEW: Donald Trump is dragging the American people into a chaotic trade war, all to protect his "friendship" with far-right tyrant Jair Bolsonaro.

New York Times: "The shift from imposing sanctions on a single judge to threatening an entire nation of 200 million with harsh tariffs was Mr. Trump's decision alone, according to two people familiar with the meeting at which the president discussed his decision and who spoke on the condition of anonymity to discuss a private conversation.

"The move showed Mr. Trump's new willingness to use tariffs to settle political scores, regardless of questions of legality, because of their sheer power to cause economic destruction and impose intense political pressure. …

"The new tariffs would take effect just before Jair Bolsonaro is poised to stand trial on charges that he oversaw a vast conspiracy to cling to power after losing the 2022 election to Mr. Lula. Brazilian prosecutors say he aimed to overturn the vote, dismantle the courts and hand special powers to the military."

Politico: "President Donald Trump is framing his threat to slap a bruising 50 percent tariff on Brazil as a quest for justice for his friend and ally, far-right former President Jair Bolsonaro."

"Trump's personal friendship with Bolsonaro - who is also deeply aligned with the MAGA movement - factored into his decision to ramp up pressure on Brazil. One Washington-based official who works with the Brazilian government told POLITICO that 'there's a lot of interpersonal dynamics behind the scenes,' pointing to friendship between Donald Trump Jr. and Eduardo Bolsonaro, the former president's son, as well as their broader ideological alignment."

REMINDER: Americans are already cutting back on spending due to Trump's reckless trade war with no end in sight.

Bank of America: "Lower-income households' spending growth is particularly soft, with their total card spending growth negative YoY in the three months to June; these households also have the weakest after-tax wage growth in Bank of America deposit data. But the spending and wage growth of higher-income households appears to have risen."

Justin Wolfers: "Trump's tariffs will cost the average household $2,400 per year, estimates the Yale Budget Lab. And they take a bigger chunk out of working class paychecks.

"The Admin hasn't released its analysis, suggesting it didn't do any, or its numbers are worse."

Axios: "President Trump's threat to put a 50% tariff on Brazil, the world's largest coffee producer, risks making your morning cup - already way more expensive than a year ago - even pricier."

CNN: "This could be the summer of economic hell"

Axios: "The latest tariffs could make your shoes a lot more expensive"

Morning Consult: 73% of Americans said they noticed higher grocery prices due to Donald Trump's tariffs.

Economists are sounding the alarm that Trump's disastrous agenda will bring higher inflation, higher unemployment, and slower growth.

Reuters: "Federal Reserve Bank of New York President John Williams expects slower growth and higher inflation this year due in large part to trade tariffs …"

Bloomberg: "Federal Reserve Governor Michael Barr said he anticipates tariffs will drive up inflation and expressed support for a wait-and-see approach to interest-rate adjustments. …

"Barr said [Trump's] levies may cause the economy to slow and unemployment to rise …"