Brazilian President Lula da Silva vowed to trigger Brazil's reciprocity law if negotiations with the U.S. fail.

President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there's no agreement by Aug.

When U.S. President Donald Trump linked 50% tariffs on Brazil to the trial against his ally, the country's former far-right leader, Washington left Latin America's largest economy with few options to deescalate but may have overestimated the country's vulnerability to the levies.