His decree regulating the trade reciprocity law, which Brazil's Congress passed in April, should be published in the official gazette on Tuesday, Costa added. Last week, U.S. President Donald Trump said he would impose a 50% tariff on Brazilian exports.

While Vice President Geraldo Alckmin said on Monday that the government has set up a working group to discuss the US tariffs with business leaders. The first meeting will take place Tuesday morning, followed by another session later in the day with agribusiness leaders.

By Fabio Teixeira, Ricardo Brito and Luciana Magalhaes BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva said he wanted to find a diplomatic solution to U.S. President Donald Trump’s threat of 50% tariffs on Brazilian exports,