BRASILIA (Reuters) -Brazilian Vice President Geraldo Alckmin said on Thursday that he had reiterated his country's willingness to negotiate proposed U.S. tariffs on imports from Latin America's No. 1 economy during a conversation on Saturday with U.S. Commerce Secretary Howard Lutnick.

Brazilian Finance Minister Fernando Haddad said on Thursday a contingency plan in response to higher U.S. tariffs will be presented to President Luiz Inacio Lula da Silva from Monday and will include a menu of measures,

Embraer's strong backlog, record deals, and favorable FX exposure provide medium/long-term support, but near-term uncertainty is high. Read why ERJ is a Hold.

Orange juice prices in the U.S. are already high. The suit argues that the tariff would lead to retail price hikes of up to 25 percent.

A Supreme Court judge ordered an investigation into potential insider trading in Brazil’s currency markets around the announcement of US tariffs on Brazilian goods.

President Donald Trump’s tariffs on Brazil could push up the cost of orange juice at major American supermarkets like Aldi, Walmart and Wegmans by as much as 25%, according to one US-based orange juice importer.

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.

Brazil once again advocated that countries should redouble their efforts toward a reform of the multilateral trading system and the full restoration of the WTO’s role.