A Supreme Court judge ordered an investigation into potential insider trading in Brazil’s currency markets around the announcement of US tariffs on Brazilian goods.

By bnl Sao Paulo bureau Brazil faces potential losses of up to BRL175bn ($31.7bn) over the next decade if the US follows through on plans to impose 50% import tariffs on Brazilian goods. The tariff threat has already triggered a Supreme Court investigation into suspected insider trading in foreign exchange markets,

The Brazilian Supreme Court is investigating whether insider information was used for improper gains in the international exchange market.