President Donald Trump is singling out Brazil for import taxes of 50%, citing its treatment of its former president, Jair Bolsonaro.

President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part because of the treatment of its former president Jair Bolsonaro, his political ally.

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

President Trump vowed to impose 50% tariffs on imports from Brazil, citing a "witch hunt" of Brazil's former president.

Brazilian assets face pressure from new US tariffs, but holding broad index trackers may reduce risk amid volatility. See why major Brazilian ETFs are a hold.

Andrew Charles, TD Cowen analyst, joins CNBC's 'Squawk on the Street' to discuss what potential tariffs on Brazil could mean for Starbucks, whether coffee price increases matter to consumers, and more.

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.The U.S. is the second biggest destination for Brazil's exports behind China.

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.