Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%.

President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.

The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.

Brazil believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.

The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.

Brazil has logistical and commercial flexibility to preserve the competitiveness of its oil on the international market if the 50% tariff announced by U.S. President Donald Trump on Wednesday comes into effect on August 1,

Is Donald Trump willing to punish consumers because he hopes to shield Brazilian President Jair Bolsonaro from legal accountability? Actually, yes.

The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump's constantly evolving trade agenda.