Economist Podcasts Heavy meddle: Trump and Brazil
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Jul 30, 2025 
Anna Adelmann, Brazil bureau chief for The Economist, and Leo Marani, India correspondent, dive into the complex dynamics between Trump and Brazil's Lula, revealing how Trump's animosity aligns with Bolsonaro's legacy. They also discuss the surge of private jet ownership in India, noting its socio-economic implications amidst urban challenges. Additionally, the conversation touches on the evolution of cha chan tang cafes in Hong Kong, highlighting their cultural resilience as they adapt to political changes and shifting global tastes.
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Political Motives Behind US Tariffs
- Trump's tariffs on Brazil are politically motivated, targeting Lula's administration and judicial officials investigating Bolsonaro.
- This represents an unprecedented U.S. interference in Brazil since the Cold War.
Tariffs Backfire on Trump’s Logic
- Trump's tariff logic doesn't apply to Brazil as it runs a trade deficit with the U.S.
- Tariffs mainly hurt Bolsonaro-supporting regions, boosting Lula's approval and causing a rally-around-the-flag effect.
Nationalism boosts Lula's support
- The tariffs unify Brazilians in opposition, as few support foreign interference in their economy.
- Lula's ratings improve due to this nationalist reaction despite economic issues and fatigue.