A few decades ago, there was a running joke to illustrate the extent to which the United States impacted Brazil’s economy: “when the United States catches a cold, Brazil is hit with pneumonia.” Over time the use of the phrase waned, as China surpassed the U.S. to become Brazil’s number 1 trading partner. Still, what happens to our North American neighbors continues to impact Brazil’s economy.
Such is the case with the tax reform proposed by Donald Trump’s administration. The American president promised the biggest tax cuts in U.S. history, which includes slashing the corporate rate from 35...
