President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,

Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week.

The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.

The 50% tariff that the Trump administration has slapped on Brazilian imports has rattled the global coffee market and could make the price of a cup of coffee in the U.S. jump beyond recent highs.

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 believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.

Brazil’s leftwing president is standing firm against Donald Trump’s 50 per cent tariff threat, as Luiz Inácio Lula da Silva seizes the confrontation with Washington to revive his re-election prospects.

President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Delta’s good news, Nvidia scores the first $4 trillion market cap milestone,