(Bloomberg) -- 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.Most Read from BloombergThe World’s Data Center Capital Has Residents SurroundedAn Abandoned Art-Deco Landmark in Buffalo Awaits RevivalWe Should All Be Biking Along the BeachBudapest’s Most Historic Site Gets a Controver