With Donald Trump's punitive tariffs against Brazil poised to take effect within days, Latin America's largest economy is bracing for a virtual embargo on its planes, grains, and crude oil. Lula promised to apply "reciprocity" if Trump's tariff threat materializes,

Brazilian President Luiz Inácio Lula da Silva said Thursday that his government has not been successful in trying to negotiate the 50% tariff on Brazilian imports that U.S. President Donald Trump has threatened to impose.

U.S. President Donald Trump's plan to impose a new 50% tariff on all Brazilian products from Aug. 1 could devastate the South American nation's citrus belt, as factories scale back production and orange farmers consider leaving fruit to rot amid a sharp drop in prices.