The Ibovespa rose 1% to close at 134,538 on Wednesday, as investors weighed the Brazilian government’s response to the 50% US tariff on Brazilian goods, which came into effect at midnight, alongside a fresh batch of corporate earnings. On Tuesday President Lula said he would not call US President Trump to negotiate the tariffs, asserting that Trump does not seek dialogue, but added that he plans to invite him to Brazil’s COP30 climate summit later this year. In corporate news Raia Drogasil jumped 14.1% after reporting better-than-expected second-quarter results, Lojas Renner climbed 5.3% on upbeat same-store sales, Eletrobras rose 3.6% on better-than-expected results, and Ita