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"If he charges 50 from us, we will charge 50 from them,” Brazilian President Luiz Inácio Lula da Silva said in an interview preview.
The president also decided to send out letters as a way to keep the pressure up.
BRASILIA, July 10 (Reuters) - Brazil scrambled to respond to U.S. President Donald Trump’s announcement of 50% tariffs on Brazilian exports, with President Luiz Inacio Lula da Silva convening an urgent cabinet meeting on Thursday as officials worked to de-escalate the crisis.
Brazilian President Luiz Inácio Lula da Silva had said that he would impose retaliatory tariffs on the United States if Trump follows through on a pledge to increase levies by 50% in response to the South American country's criminal trial against his predecessor,
President Donald Trump is threatening to impose 50% tariffs on Brazilian imports — a move that could spike prices of breakfast staples like coffee and orange juice.
The US government has started announcing the much-awaited reciprocal tariffs as President Donald Trump shot off letters to a number of countries announcing the imposition of new tariffs, which range from 25% to 40%.
Tokyo and Seoul were staring down the threat of 24% and 25% tariffs, respectively, before the president fired off the letters Monday.
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A delegation from the Philippines will discuss with representatives from the United States the 20% reciprocal tariff before the scheduled August 1 implementation.
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