Brazil President Luiz Inacio Lula da Silva’s defiant response to Donald Trump’s 50% tariff threat was validated Wednesday — at least in the short term — with markets and businesses breathing a collective sigh of relief at the long list of exemptions to the levies.

Approval for Brazilian President Luiz Inacio Lula da Silva exceeded disapproval for the first time in nine months, a poll showed on Thursday, against a backdrop of a growing dispute with Washington.

Trump and Lula's spat is just the latest in a long battle for regional influence between the U.S. and Brazil. The next battleground may be over the U.S. dollar. The post The U.S.-Brazil Spat Is About More Than Just Trump and Lula appeared first on World Politics Review.