A fiery protest erupted outside the U.S. Embassy in Brasilia as Brazilian students, workers, political parties, and social movements came together to oppose President Donald Trump’s newly imposed tariffs.

Brazil President Luiz Inacio Lula da Silva’s defiant response to Donald Trump’s 50% tariff threat was validated Wednesday — at least in the short term — with markets and businesses breathing a collective sigh of relief at the long list of exemptions to the levies.