Mabrouk Chetouane joins Morning Movers to dissect the developments in Donald Trump's ongoing tariff negotiations. He differentiates the potential political and economic fallout from the global trade uncertainty. Mabrouk points to the critical partnership with Brazil's economy and cautions against the South American nation's increasing relations with China. He says the reaction by tariffs is "pretty calm" as they await for the end of the negotiating period for clear pricing impact. Mabrouk adds that market participants have learned from the April "panic" from the initial round of tariffs.