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.

President Donald Trump said Wednesday the U.S. will slap a 50% tariff on Brazil's imports, partly in retaliation for the ongoing prosecution of the country's former president, Jair Bolsonaro.