Tarcísio de Freitas, governor of São Paulo state and a former infrastructure minister under Bolsonaro, told reporters Thursday that the U.S. tariffs would have a negative impact on the economy and for important industrial exporters from his state, including Brazilian plane maker Embraer.

US President Donald Trump has said he will impose a 35% tariff on Canadian goods starting on 1 August, even as the two countries were days away from a self-imposed deadline to reach a new trade deal.

The stock market shrugged at the letters; investors are now used to the president saying something nuts and then doing nothing.