U.S. President Donald Trump slapped 50% tariff on Brazilian goods two days after Brazilian President Luiz Inácio Lula da Silva slammed Trump for his tariff threat against Brics nations. Lula not sitting still, pledging to react in accordance to Brazil's Economic Reciprocity Law.

Rio de Janeiro

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

U.S. President Donald Trump has imposed a 50% tariff on goods imported from Brazil, following critical remarks made by Brazilian President Luiz Inácio Lula da Silva regarding Trump's tariff threats against BRICS nations. In response, President Lula has stated that Brazil will react in line with its Economic Reciprocity Law, indicating potential retaliatory measures.

The move has led to a decline in the Brazilian real against the U.S. dollar and has drawn criticism from Brazilian industry groups, particularly the beef export sector. Trump linked the tariffs to Brazil's treatment of former president Jair Bolsonaro and concerns over free elections and free speech. The situation has heightened political and economic tensions between the two countries, with broader implications for international trade.

Trump goes after Brazil with 50% tariff, Lula vows response

President Lula of Brazil also coming out of with some fresh lines just a few minutes ago saying any unilateral measure to increase the tariffs will be met with a response in accordance with the Brazilian law so there we go some public spat that could lead to some kind of legal spat as well not that we didn't really see this coming because President Lula did sound defiant in his comments just a couple of days ago before this 50% of tariff rate that was announced as well and you're looking at the currency moves Brazilian real actually actually declining versus the US a dollar quite a bit so we're definitely watching this part of the tariff attention as well Marty I think it's a bit more than defiant Sherry it's more sort of antagonistic because you're referring to what was said during the BRICS summit President Lula right he called Trump an unwanted Emperor so that's a pretty strong language right and interesting in in Trump's letter the president's letter to Lula and to Brazil the president linked the tariffs to Brazil's treatment of former president Jair Bolsonaro who's on trial over charges of plotting a coup and the president said the tariffs were imposed due in part to Brazil's insidious attacks on free elections and the fundamental free speech rights of Americans the letter said so wow it's it's getting political as well as personal exactly I'm getting into the domestic political situation in Brazil I think that is really an interesting takeaway as well and what president said to just overnight Brazil Brazil has not been good to us and not good at all I didn't really elaborate and all that so except before that the letter a bit but I wonder if this is also a factor that could sort of embolden BRICS countries altogether and perhaps a Trump is going after that as well especially given somewhat meaningful progress by BRICS countries towards this thing called de-dollarization that we've been talking about this is true yeah something to watch and again just to recap Brazil's president Lula in reaction to that 50% tariff slapped on by President Trump which is going to kick in August the first says any unilateral measure to increase tariffs is going to be met with a response in accordance with Brazilian law and Brazil a huge beef exporter of course and their beef lobby group which is ABIEC A-B-I-E-C said that any increase in tariffs on Brazilian products represents an obstacle to international trade that's probably no surprise

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Trump goes after Brazil with 50% tariff, Lula vows response

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