Brazil in no rush to retaliate against US tariffs, Lula says

Brazilian President Luiz Inacio Lula da Silva said on Friday he is in "no rush" to reciprocate tariffs imposed by the United States on goods from his country, instead reiterating that his administration is open to negotiations.

Lula's remarks came as his Foreign Ministry ordered trade body Camex to start analyzing whether a local reciprocity law could be used against the United States, after President Donald Trump slapped 50% duties on Brazilian goods.

"This is a process that takes a bit of time," Lula said in an interview with Itatiaia radio. "We have to tell the United States that we also have actions we can take against them. But I am in no rush. What I want is to negotiate."