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.

"If he charges 50 from us, we will charge 50 from them,” Brazilian President Luiz Inácio Lula da Silva said in an interview preview.

Brazil's President Lula is firing back at Trump's 50% tariff threat — saying Brazil is ready to match any U.S. import taxes, dollar for dollar.