Brazilian President Luiz Inácio Lula da Silva affirmed his willingness to engage in serious negotiations on a trade agreement with the United States, while rejecting what he described as "threats and diktats" by U.S. President Donald Trump against his country.

In remarks aired by CNN on Thursday evening, Lula stated that Brazil "will not accept any terms imposed without mutual agreement," emphasizing that "we accept negotiation, not coercion."

The Brazilian leader added that the ball is in President Trump's court to demonstrate whether he is "serious" about negotiating a trade deal with Brazil, stressing that his country prioritizes its people's interests above all else.

Lula suggested that returning to the negotiating table would be the "best path" to reach mutual understandings between the two nations, expressing his openness to dialogue to prevent bilateral relations from continuing on their current strained course.

The Brazilian president had warned last week that his country would "respond in kind" to the 50% tariffs that President Trump plans to impose on Brazilian imports starting August 1st.

"Brazil will not tolerate disrespect from any party," Lula declared, adding that "any unilateral tariff increases will be met with reciprocal measures in accordance with the principle of mutual treatment."