Top court opens inquiry into insider trading before Trump’s tariffs
Brazil’s Supreme Court Justice Alexandre de Moraes on Monday (Jul. 21) ordered the opening of an investigation into the alleged use of inside information surrounding the tariffs unveiled by US President Donald Trump against Brazil.
The request for in inquiry was made last week to the Supreme Court by the country’s Prosecutor-General Paulo Gonet as part of the probe into Federal Representative Eduardo Bolsonaro’s efforts to have the US government adopt retaliatory measures against the Brazilian government and Supreme Court authorities. According to the inquiry, the former president’s son is also trying to block the progress of the criminal action over the coup plot aimed at preventing President Luiz Inácio Lula da Silva from taking office for a third term in 2022.
In March of this year, Eduardo Bolsonaro took a leave of absence from office and moved to the US alleging political persecution.
According to the prosecutor-general’s request, the aim of the case is to investigate atypical movements in the Brazilian foreign exchange market before and after Trump announced a 50-percent tax on Brazilian exports to the US as of August 1.
