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

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.

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

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.

U.S. President Donald Trump avoided his standard form letter with Brazil, specifically tying his tariffs to the trial of Bolsonaro, who is charged with trying to overturn his 2022 election loss.

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.

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%.