Coin World News reports that on July 15 (UTC+8), according to CCTV News, on the 14th local time, Brazil established a "Negotiation and Trade Countermeasures Committee" to assess the potential impact of U.S. President Trump's announcement of a 50% tariff on Brazil's economy and to discuss potential countermeasures. Brazilian Vice President and Minister of Development, Industry and Trade Alckmin stated at a press conference on the 14th that the committee will hold two meetings with the industrial and agricultural sectors on the 15th local time. Alckmin stated that engaging in extensive dialogue with exporters is the first step for the Brazilian government to respond to the Trump administration's tariff policy. He mentioned that if the U.S. tariff policy comes into effect, Brazil will take countermeasures. The committee is chaired by Alckmin. Brazilian President Lula will also meet with some entrepreneurs through this committee.