The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories.

RIO DE JANEIRO (AP) — Brazilian President Luiz Inácio Lula da Silva said Thursday that he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50% over the South American country’s criminal trial against his predecessor, Jair Bolsonaro.

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.