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,

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,

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against 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.

President Trump defended former President of Brazil Jair Bolsonaro in his threats to hit Brazil with a 50% tariff. Brazil's current President Luiz Inacio Lula da Silva said his country will respond with reciprocity.

In a post on his social media platform, Trump said he was levying a 50% tariff on Brazil, the world’s leading coffee producer, citing, in part, its treatment of former President Jair Bolsanaro.

Sao Paulo-traded shares of Embraer tumbled as much as 8% on the news, before paring some losses to trade down 5%. Embraer was the biggest decliner on Brazil's Bovespa benchmark stock index, which slipped 0.7%.

Is Donald Trump willing to punish consumers because he hopes to shield Brazilian President Jair Bolsonaro from legal accountability? Actually, yes.