According to CCTV News, after the United States announced that it would impose a 50% tariff on Brazilian goods starting August 1, local time on July 10, Brazilian President Lula said in an interview that Brazil will conduct tariff negotiations with the United States, and if it is ineffective, it will take reciprocal countermeasures. Lula said that Brazil will give priority to tariff negotiations and file a lawsuit with the World Trade Organization regarding the U.S.'s unilateral imposition of tariffs. He emphasized that if the negotiations are ineffective, reciprocal countermeasures will be taken in accordance with Brazil's "Economic Reciprocity Law," and a 50% tariff will be imposed on Brazilian products exported to the United States. [Odaily Planet Daily]

Brazilian President: Will Hold Tariff Negotiations with the United States; Will Counter with Equivalent Measures if Ineffective