{"id":1054881,"date":"2025-07-11T11:13:23","date_gmt":"2025-07-11T15:13:23","guid":{"rendered":"https:\/\/democrats.org\/?p=1054881"},"modified":"2025-07-11T11:13:24","modified_gmt":"2025-07-11T15:13:24","slug":"trump-drags-the-us-toward-financial-crisis-all-to-protect-his-bestie-disgraced-tyrant-jair-bolsonaro","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-drags-the-us-toward-financial-crisis-all-to-protect-his-bestie-disgraced-tyrant-jair-bolsonaro\/","title":{"rendered":"Trump Drags the US Toward Financial Crisis All To Protect His Bestie, Disgraced Tyrant Jair Bolsonaro\u00a0\u00a0"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to Donald Trump putting Brazil\u2019s former president Jair Bolsonaro above the American people, <\/em>DNC Rapid Response Director Kendall Witmer released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump promised to put America first, but instead, he\u2019s destroying the entire U.S. economy in exchange for a political favor for his bestie, a disgraced foreign tyrant. Because of Trump\u2019s 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.\u201d<\/p>\n\n\n\n

NEW: Donald Trump is dragging the American people into a chaotic trade war, all to protect his \u201cfriendship\u201d with far-right tyrant Jair Bolsonaro.<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cThe shift from imposing sanctions on a single judge to threatening an entire nation of 200 million with harsh tariffs was Mr. Trump\u2019s decision alone,<\/strong> 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.<\/p>\n\n\n\n

\u201cThe move showed Mr. Trump\u2019s 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. \u2026<\/strong><\/p>\n\n\n\n

\u201cThe 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.\u201d<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cPresident 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.\u201d<\/strong><\/p>\n\n\n\n

\u201cTrump\u2019s personal friendship with Bolsonaro<\/strong> \u2014 who is also deeply aligned with the MAGA movement \u2014 factored into his decision to ramp up pressure on Brazil. One Washington-based official who works with the Brazilian government told POLITICO that \u2018there\u2019s a lot of interpersonal dynamics behind the scenes,\u2019 pointing to friendship between Donald Trump Jr. and Eduardo Bolsonaro, the former president\u2019s son, as well as their broader ideological alignment.\u201d<\/p>\n\n\n\n

REMINDER: Americans are already cutting back on spending due to Trump\u2019s reckless trade war with no end in sight.<\/strong><\/p>\n\n\n\n

Bank of America<\/a>: \u201cLower-income households\u2019 spending growth is particularly soft, with their total card spending growth negative<\/strong> YoY in the three months to June; these households also have the weakest after-tax wage growth<\/strong> in Bank of America deposit data. But the spending and wage growth of higher-income households appears to have risen.\u201d<\/p>\n\n\n\n

Justin Wolfers<\/a>: \u201cTrump\u2019s 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.<\/strong><\/p>\n\n\n\n

\u201cThe Admin hasn\u2019t released its analysis, suggesting it didn\u2019t do any, or its numbers are worse.\u201d<\/p>\n\n\n\n

Axios<\/a>: \u201cPresident Trump\u2019s threat to put a 50% tariff on Brazil, the world\u2019s largest coffee producer, risks making your morning cup \u2014 already way more expensive than a year ago \u2014 even pricier.\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cThis could be the summer of economic hell\u201d<\/p>\n\n\n\n

Axios<\/a>: \u201cThe latest tariffs could make your shoes a lot more expensive\u201d<\/p>\n\n\n\n

Morning Consult<\/a>: 73% of Americans said they noticed higher grocery prices due to Donald Trump\u2019s tariffs.<\/p>\n\n\n\n

Economists are sounding the alarm that Trump\u2019s disastrous agenda will bring higher inflation, higher unemployment, and slower growth. <\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cFederal Reserve Bank of New York President John Williams expects slower growth and higher inflation this year due in large part to trade tariffs \u2026\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cFederal Reserve Governor Michael Barr said he anticipates tariffs will drive up inflation <\/strong>and expressed support for a wait-and-see approach to interest-rate adjustments. \u2026<\/p>\n\n\n\n

\u201cBarr said [Trump\u2019s] levies may cause the economy to slow and unemployment to rise \u2026\u201d<\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

In response to Donald Trump putting Brazil\u2019s former president Jair Bolsonaro above the American people, DNC Rapid Response Director Kendall Witmer released the following statement: \u201cDonald Trump promised to put America first, but instead, he\u2019s destroying the entire U.S. economy in exchange for a political favor for his bestie, a disgraced foreign tyrant. Because of […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1054881","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump Drags the US Toward Financial Crisis All To Protect His Bestie, Disgraced Tyrant Jair Bolsonaro\u00a0\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trump-drags-the-us-toward-financial-crisis-all-to-protect-his-bestie-disgraced-tyrant-jair-bolsonaro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-11T15:13:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-11T15:13:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-drags-the-us-toward-financial-crisis-all-to-protect-his-bestie-disgraced-tyrant-jair-bolsonaro\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-drags-the-us-toward-financial-crisis-all-to-protect-his-bestie-disgraced-tyrant-jair-bolsonaro\/\",\"name\":\"Trump Drags the US Toward Financial Crisis All To Protect His Bestie, Disgraced Tyrant Jair Bolsonaro\u00a0\u00a0 - 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