U.S. consumers face sharp price rises on food staples like coffee and orange juice if the Trump administration sticks to its plan to slap 50% tariffs on all imports from Brazil, traders and experts said on Thursday.

Brazil’s annual inflation ticked up further above target as US President Donald Trump rattled Latin America’s largest economy with plans to impose 50% tariffs on all its goods and services.

The letter addressed to his Brazilian counterpart reads as a threat to end the ongoing trial of his predecessor, Trump ally Jair Bolsonaro.

Brazil scrambled to respond to U.S. President Donald Trump’s announcement of 50% tariffs on Brazilian exports, with President Luiz Inacio Lula da Silva convening an urgent cabinet meeting on Thursday as officials worked to de-escalate the crisis.

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In a letter to Brazilian President Lula da Silva, Trump declared a 50% tariff on all imports from Brazil, warning that any retaliatory tariff increases would be added to the initial 50%.

Donald Trump said he plans to impose a 50% tariff on imports from Brazil. Questions about the future of FEMA loom amid the Texas floods. And "Superman" becomes a political flashpoint ahead of the new movie's release.

Trump slapped a 50% tariff on Brazil, and Brazilian President Luiz Inacio Lula da Silva said his country would respond.