Brazilian President Luiz Inácio Lula da Silva speaks during the opening of the National Construction Industry meeting at the headquarters of the Brazilian National Confederation of Industry in Brasilia, Brazil, on Nov. 26, 2024. Adriano Machado/Reuters
Brazilian President Luiz Inácio Lula da Silva said on Thursday that his nation may implement retaliatory tariffs if the United States follows through with President Donald Trump’s plan to impose a 50 percent tariff on Brazilian goods on Aug. 1.
Lula said that his government intends to negotiate with the Trump administration over the tariff hikes. Still, he warned that Brazil may enforce its economic reciprocity laws if those talks fall through.
