President Donald Trump on Wednesday levied a 50% tariff against Brazil, which produces more than a third of the world's coffee, citing, in part, the country's treatment of former President Jair Bolsonaro,

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.

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.

Brazil’s President forcefully rebuked Trump after the U.S. leader called the prosecution of Lula’s predecessor, Bolsonaro, a “witch hunt” and hiked tariffs on the Latin American nation.

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.

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.

Live updates and the latest news as the Trump administration is expected to announce new trade actions and Pete Hegseth and Benjamin Netanyahu meet