President Luiz Inacio Lula da Silva insisted Brazil can survive without trade with the US and will look to other partners to replace it, a sharp response to Donald Trump after the American leader threatened 50% tariffs against the nation.

Brazilian President Luiz Inácio Lula da Silva warned Thursday he would impose retaliatory tariffs if the US hikes import duties by 50%, citing Brazil’s prosecution of ex-leader Jair Bolsonaro. Lula said he would invoke Brazil’s reciprocity law if talks fail,

Brazilian President Luiz Inacio Lula da Silva announces potential countermeasures to a 50% import tariff imposed by U.S. President Donald Trump, emphasizing the Reciprocity Law. Lula suggests appealing to the World Trade Organization and possible international investigations as part of Brazil's response strategy.

As Brazil’s Luiz Inacio Lula da Silva and Donald Trump trade blows, the person they are fighting over has sent mixed signals to investors trying to divine who will blink first.