President Trump wants the Fed to slash borrowing costs, but the central bank is unlikely to take such aggressive steps even once it begins to lower interest rates.

Chair Jerome Powell has said the Federal Reserve would likely have cut rates already if not for Trump’s sweeping tariffs.

Back in April, President Donald Trump had claimed to have done “over 200 deals” in an interview with Time Magazine, and trade adviser Peter Navarro had said that “90 deals in 90 days” was possible. The country has fallen far short of that, with only eight deals in 120 days, including one with the 27-member European Union.

The bulk of President Donald Trump’s global tariffs face their biggest test yet when a US appeals court weighs arguments on their legality Thursday, a day before higher rates against many countries are set to kick in.

The Trump administration is imposing new tariffs on Brazil and sanctioning a Brazilian supreme court justice in an extraordinary attempt to interfere in Brazil’s domestic politics on behalf of a far-right ally.

The White House hit Brazil on Wednesday with a 50 percent tariff and sanctions on a justice overseeing investigations into former President Jair Bolsonaro.

President Donald Trump has signed an executive order to impose his threatened 50% tariffs on Brazil WASHINGTON -- President Donald Trump signed an executive order Wednesday to impose his threatened 50% tariffs on Brazil,