President Luiz Inácio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters. View on euronews

With President Trump on their side, U.S. technology companies now have more leverage in Brazil, where they seek to influence new rules policing their platforms.

Brazil was not the only country targeted for political reasons. India faces a comparable rate for buying Russian oil. Mr Trump warned Mark Carney, Canada’s prime minister, that recognising a Palestinian state would make trade negotiations “very hard”.