Brazilian President Lula da Silva vowed to trigger Brazil's reciprocity law if negotiations with the U.S. fail.

Brazil's government on Friday downplayed the impact of the 50% tariff U.S. President Donald Trump threatened to impose on imports from that country, as leaders from both nations expressed a cautious willingness to negotiate in the future.

The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.