U.S. President Donald Trump said he plans to impose 50% tariffs on all products from Brazil starting August 1, which could have a sharp impact on South America's agricultural powerhouse.

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.

President Trump is threatening Brazil with a 50% tariff, citing a "witch hunt" against the country's ex-President Jair Bolsonaro. NBC News Business and Data Correspondent Brian Cheung reports more. CNBC Senior Analyst and Commentator Ron Insana joins Chris Jansing to break down the economic impact on Americans.

U.S. corn exports and export sales are still on fire despite the imminent ramp-up of Brazil’s corn shipping season, and the U.S. government might need to up its export target yet again.

President Donald Trump’s plan to hit Brazil with a 50% import tax on Aug. 1 threatens to increase prices for coffee and orange juice, two of the South American country’s key products.