Dollar operates on the rise and goes to R$5.05, with an eye on new Trump tariffs and conflict between the USA and Iran; Ibovespa falls

Understand what makes the price of the dollar rise or fall
The dollar operates up 0.83% this Wednesday (3), quoted at R$ 5.0508 around 10:30 am. Ibovespa, the main Brazilian stock market index, fell 1.34% at the same time, 171,856 points.
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▶ The United States proposed yet another surcharge for Brazilian products on Tuesday night (2). The decision to apply a 12.5% rate is based on Section 301 of the American Trade Law - the same one used to justify the 25% tariff imposed on Brazil the day before.
The new investigation carried out by the American government concluded that Brazil and 53 other countries failed to ban the import of goods produced with forced labor and that this creates a dynamic of "unequal competition" for American companies and workers.
It is not yet clear, however, whether the fees add up - which could total a surcharge of 37.5% on Brazilian products. (understand more below)
▶ For the financial market, however, uncertainties surrounding the conflict in the Middle East weigh even more heavily, amid mixed messages coming from the United States and Iran. Yesterday, President Donald Trump denied that the negotiations had been interrupted, contradicting what Tehran authorities had stated at the beginning of the week.
This Wednesday, the American president stated that Iran "agreed not to have nuclear weapons" and announced that he would like to meet the country's supreme leader, Ayatollah Motjaba Khamenei at some point. Faced with uncertainty about the continuation of negotiations, oil was facing another day of growth.
Around 10:40 am, a barrel of Brent, an international reference, was up 1.45%, quoted at US$ 97.39. West Texas Intermediate (WTI), from the USA, rose 1.41% at the same time, to US$ 95.08 per barrel.
See below more details of the day in the market.
Dollar

a
Accumulated for the week: -0.67%;
Accumulated for the month: -0.67%;
Accumulated for the year: -8.74%.
Ibovespa

Accumulated for the week: +0.24%;
Accumulated for the month: +0.24%;
Accumulated for the year: +8.11%.
Trade retaliation
In yet another trade retaliation by the Trump administration, the United States reported on Tuesday night (2) that it carried out another investigation based on Section 301 of the American Trade Law and concluded that Brazil and 52 other countries failed to prohibit and monitor the import of goods produced with forced labor.
In response, the American government proposed the application of additional tariffs of 12.5% on all products from these countries. This is because, according to the report, the practice of these countries is "irrational" and restricts US trade by creating unfair competition for American companies and workers.
The US government has established two levels of surcharge:
10% additional tariff for countries that already have a partial ban or that have formally committed to applying rules through reciprocal trade agreements. They are: European Union, Mexico, Canada, Indonesia, Pakistan and Ecuador.
12.5% additional tariff for all other economies investigated that do not have effective control regimes. They are: Brazil, China, India, Japan, South Korea, United Kingdom, Argentina, Saudi Arabia, among others.
The 12.5% rate comes just one day after the American government decided to impose a 25% tariff on Brazilian products. According to Itamaraty, the expectation is that the two rates, if adopted, will be cumulative.
READ ALSO
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Section 301: understand the mechanism used by the USA against Brazil
Next steps: is the decision final? What happens now?
Middle East impasse continues
More than three months after the US and Israel launched attacks on Iran, the conflict is at a stalemate. (follow the main developments)
The military advisor to Iran's supreme leader also warned of the possibility of more missile and drone attacks if the United States renews its attacks against Iran.
"Every shot fired and every attack will be responded to with a barrage of missiles and drones," Mohsen Rezaei published in Qeshm, which launched retaliatory attacks against Kuwait and Bahrain. The attack caused damage to Kuwait's airport, leaving 1 dead and more than 60 injured.
President Trump, in turn, was optimistic about the negotiations - even in the midst of ceasefire violations. According to the American president, Iran has agreed not to have nuclear weapons.
Trump also highlighted that the Iranian supreme leader, Motjaba Khamenei, is involved in the negotiations and said he wants to meet him at some point.
Faced with mixed signals and uncertainty about the continuation of negotiations, oil prices rose again on the international market this Wednesday.
Around 10:40 am, a barrel of Brent, an international reference, rose 1.45%, quoted at US$ 97.39. West Texas Intermediate (WTI), from the USA, rose 1.41% at the same time, to US$ 95.08 per barrel.
Global markets
The escalation of the conflict in the Middle East was also on the radar in global markets. In the United States, Wall Street indices operated without a single direction.
At around 10:40 am, the Dow Jones index fell 0.42% and the Nasdaq fell R$0.28%. The S&P 500, in turn, rose 0.13%.
In Europe, the indices were mostly falling. Among the main indices in the region, the German DAX fell 0.97% at close to 10:40 am, while the British FTSE 100 fell 0.14% and the French CAC-40 lost 0.48%.
In Asia, China's stock markets closed higher, driven by shares in the optical and semiconductor sectors. The Shanghai Composite index rose 0.2%, while the CSI 300 rose 0.5%.
In Hong Kong, the Hang Seng fell 1.6%. Japan's Nikkei advanced 2.5%.
Dollar
Reuters/Lee Jae-Won/File photo

Source: G1