Brazil’s president, Luiz Inacio Lula da Silva, had just returned to his office from a meeting with Indonesia’s prime minister when the reports began blaring on TV.

Brazilian President Luiz Inácio Lula da Silva says that his government has not been successful in trying to negotiate the 50% tariff on Brazilian imports that U.S.

Chemical products companies in Brazil, which exported $2.4 billion to the U.S. last year, face a slew of contract cancellations as President Donald Trump has threatened a new 50% tariff on the South American nation's exports from August 1.