Instead on Wednesday, Trump continued to threaten countries with higher tariffs in the near future by publishing open letters to the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka that set new tariff rates ranging from 20% to 30% that he said he would impose on Aug. 1.

President Donald Trump on Wednesday announced a new round of tariffs targeting six additional trading partners. Beginning Aug. 1, the

President Donald Trump sent out a slew of letters Wednesday to some global trading partners, advising them of tariff levels as high as 50% for their exports to the United States.

"Any measure to unilaterally raise tariffs will be responded to in accordance with Brazil's Economic Reciprocity Law," Lula's office said in a statement. (Reporting by Ricardo Brito; Writing by Isabel Teles;