Money managers from Aberdeen Group Plc to Franklin Templeton are staying bullish on Brazil, betting the country will withstand its unexpected turn in the epicenter of Donald Trump’s trade war. One reason: The fairly closed Brazilian economy,

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,

Starbucks Could Take a Hit From 50% Brazilian Tariffs. The Cost of Coffee Beans Will Rise. The Trump administration threat of a 50% tariff on all Brazil imports will hit a variety of American companies. That includes coffee chain Starbucks, which imports a lot of coffee beans from Brazil.

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

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.

The U.S. dollar rose on Friday, fuelled by upheavals on the global trade landscape, as U.S. President Donald Trump announced more import tariffs, ranging from 35% on neighbouring Canada to plans for blanket levies of 15% or 20% on most trading partners.

President Donald Trump singled out Brazil for import taxes of 50% on Wednesday for its treatment of its former president, Jair Bolsonaro, showing that personal grudges rather than simple economics are a driving force in the U.