Brazilian President Lula da Silva vowed to trigger Brazil's reciprocity law if negotiations with the U.S. fail.

SAO PAULO (AP) — President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there’s no agreement by Aug. 1.

The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.