<ul data-eligibleForWebStory="false"><li>Brazil is preparing to retaliate against US tariffs imposed on its exports, escalating the trade war between the two countries.</li><li>President Trump threatened a 50% tariff on Brazilian goods, accusing the country of conducting a 'witch-hunt' against its former president, Bolsonaro.</li><li>Brazil's current president, Lula, stated that Brazil is a sovereign nation and will not accept tutelage. Plans are being made to address the US tariff hikes.</li><li>Trump has warned of further retaliation if Brazil responds to the tariffs, with the tariffs set to be implemented on August 1. Other countries are also facing proposed US levies.</li></ul>

Brazil draws up plans to retaliate against Trump’s 50% tariff threat

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