Brazilian President Luiz Inácio Lula da Silva hit back on Monday at recent threats from U.S. President Donald Trump to impose tariffs on countries that align themselves with BRICS.

Brazilian President Luiz Inácio Lula da Silva said Wednesday that the 50% tariffs announced by U.S. President Donald Trump would trigger the country's economic reciprocity law. That allows trade, investment and intellectual property agreements to be suspended for countries that harm the South American nation's competitiveness.

Brazilian President Luiz Inacio Lula da Silva said Wednesday that his country will respond with reciprocity to U.S. President Donald Trump 's newly announced 50% tariff rate on his country's exports, citing a recently adopted Brazilian law that authorizes the government to take proportional countermeasures.