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

Goods imported from both the European Union and Mexico will face a 30% U.S. tariff rate starting August 1, U.S. President Donald Trump said in letters posted to his social media platform on Saturday.

Trump is threatening to raise taxes on many goods from Canada, hike his universal tariff on imports from around the world and punish Brazil for prosecuting his friend, the country’s former president.