Brazilian President Luiz Inacio Lula da Silva responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law.

The exchange with the South American nation suggests the U.S. president also sees trade as a tool to influence other policies of foreign countries.

The United States will introduce 50% tariffs on all goods imported from Brazil starting on August 1, President Donald Trump announced on July 10 on his Truth Social platform. The new measures also include a 50% duty on all copper imports to the US.

National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

Ero Copper's flagship project is Vale do Curaçá, a district of high-grade magmatic sulfide copper deposits and mines in Bahia, Brazil. Within 2 years of acquiring the project, ...

BRASILIA, April 6 (Reuters) - Brazilian copper output is set to more than double in three years, metal the market will welcome at a time of fast-growing domestic demand and tighter global supplies ...