The Brazilian exchange-traded fund (ETF) EWZ opened higher in New York, reflecting positive market sentiment. However, this trend reversed, with EWZ closing down 2% following the escalation of a tariff war linked to recent policies from the Trump administration. In contrast, Brazilian companies listed as American Depositary Receipts (ADRs) experienced gains, with Embraer shares reaching $50, marking a 36% increase year-to-date and an 18% rise since the previous post. The Ibovespa index, tracked through EWZ, also saw a closing increase in New York, buoyed by strong performances from Embraer and banking stocks. Despite the initial gains, the overall sentiment was affected by the tariff developments, leading to a decline in EWZ's performance by the end of trading.