# Lula da Silva called a cabinet meeting to discuss Trump’s tariffs: São Paulo stocks fall and the real depreciates

> Brazilian President Luiz Inácio Lula da Silva called a cabinet meeting to discuss the government’s response to US President Donald Trump’s stated plan to impose a 50% tariff on imports from Brazil. Lula said the tariffs would be met with reciprocal measures, and the government said it would form a working group to determine its response.

- Date: 2026-11-08 · published 2026-11-08T18:09:03.244Z
- Category: trade · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/87758-lula-da-silva-called-a-cabinet-meeting-to-discuss-trump-s-tariffs-sao-paulo
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A tariff threat could disrupt Brazilian exports to the United States and prompt countermeasures, adding uncertainty to trade flows and pressuring the real. The weaker real lifts the USDBRL exchange rate; any feed-commodity price effects depend on which products are ultimately covered and how trade is redirected.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2019-12-02 | [Brazil's real falls to 4.25 per dollar after Trump says he will restore tariffs on Brazil steel imports](https://feedsoft.ai/events/55773-brazil-s-real-falls-to-4-25-per-dollar-after-trump-says-he-will-restore-tariffs.md) | -1.2% | -5.0% |
| USDBRL | 2025-07-17 | [U.S. tariff dispute weighs on Brazil’s real and interest rates](https://feedsoft.ai/events/24002-u-s-tariff-dispute-weighs-on-brazil-s-real-and-interest-rates.md) | -0.3% | -2.9% |
| USDBRL | 2025-07-09 | [Trump imposes 50% tariffs on Brazil after spat with Lula](https://feedsoft.ai/events/23999-trump-imposes-50-tariffs-on-brazil-after-spat-with-lula.md) | +1.9% | +0.8% |
| USDBRL | 2024-12-03 | [Trump’s tariff threats fuel currency instability, market pressure](https://feedsoft.ai/events/12459-trump-s-tariff-threats-fuel-currency-instability-market-pressure.md) | -0.2% | +1.8% |
| USDBRL | 2026-07-16 | [USD/BRL Near R$5.09: Can Brazil's Carry Trade Absorb the New 25% US Tariff? \| EBC Financial Group](https://feedsoft.ai/events/18567-usd-brl-near-r-5-09-can-brazil-s-carry-trade-absorb-the-new-25-us-tariff-ebc.md) | -0.4% | +1.6% |

## Sources

- radio9digital.net: https://radio9digital.net/lula-da-silva-convoco-a-una-reunion-de-gabinete-para-discutir-los-aranceles-de-trump-baja-la-bolsa-de-san-pablo-y-el-real-se-deprecia/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.