Internet reports that Brazil's mining industry has warned that if the government adopts reciprocal tariff measures in retaliation for US President Trump's threat to impose 50% tariffs starting on August 1, it will have severe economic consequences. Raul Jungmann, head of the Brazilian Mining Association (Ibram), said that if Trump follows through on his threats and Brazil takes such countermeasures, the mining sector will face additional costs of up to US$1 billion a year. Brazilian mining executives are considering opening a dialogue with U.S. companies to push the Trump administration back to the negotiating table.