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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%

Lula was responding to Wednesday's threat by his US counterpart, Donald Trump, to impose a 50% import tax on Brazilian goods from 1 August. In a letter, Trump cited Brazil's treatment of former President Jair Bolsonaro as a trigger for tariff-hike.