Trump twinned his threat to Brazil with the promise of a 50% tariff on copper, which would strike at the economic lifeline of two more Southern neighbors, Chile and Peru. The president capped his week by setting a 30% tariff on Mexican imports as of Aug. 1.

Approval for Brazilian President Luiz Inacio Lula da Silva's government rose for the first time this year, a new poll showed on Wednesday, after his U.S. counterpart Donald Trump announced a 50% tariff on imports from Brazil starting in August.

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.