US President Donald Trump announced that a 50% tariff will be imposed on Brazilian imports starting August 1, partly as retaliation for the prosecution of Brazil's former leader Jair Bolsonaro.Immediately after Trump's announcement, Brazilian President Luiz Inacio Lula da Silva stated that he would invoke a new Brazilian law authorizing the government to take corresponding countermeasures against the 50% tariff.Related NewsEIA Crude Oil Stocks Change for Jul/11 in United States is -3.859M, lower than the previous value of 7.070M. The forecast was -1.8M.