On July 10th, according to Jinshi Data, U.S. President Trump announced a 50% tariff on Brazil. Brazilian President Lula issued a statement in response, saying that the claim that "the United States has a trade deficit with Brazil" is pure misinformation. U.S. official statistics show that the United States has accumulated a surplus of $410.0 billion in trade in goods and services with Brazil over the past 15 years. In view of this, any unilateral tariff increase will be met with a reciprocal response in accordance with Brazil's Commercial Reciprocity Law. Lula stressed that national sovereignty, mutual respect, and the firm defense of the interests of the Brazilian people have always been the core principles of Brazil's handling of international relations. [Deep Tide TechFlow]

The United States will impose a 50% tariff on Brazil, and the Brazilian president says he will respond in kind.