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.

Brazil’s oil exports to the US face potential disruption from threatened tariffs, prompting the country and its state-controlled oil company Petrobras to explore new markets and strategies.

By slapping a 50% tariff on Brazil for its criminal investigation of Bolsonaro, the Trump administration is brazenly putting its fingers on the scales of a key foreign election