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

Trump announced a 50 percent tariff on all Brazilian goods, escalating a feud over Brazil’s prosecution of former president Jair Bolsonaro. Brazil vowed to retaliate.

President Trump is again amping up his trade threats, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. The highlight of his letter barrage late Wednesday was his announcement of a coming 50% tariff on goods from Brazil in a letter sent to its president,

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

President Donald Trump unveiled a wave of letters again threatening key trading partners with high tariff rates even as he delayed the increased duties until Aug. 1 and suggested that he was still open to negotiations.

The European Union said it was working on sealing a trade deal with the United States by the end of the month, while U.S. President Donald Trump promised that he would deliver further tariff notices on unnamed countries on Wednesday.

EU negotiators are closing in on a trade deal with Donald Trump that would cement higher tariffs than those granted to the UK, a Brexit dividend that has rattled some European capitals. Brussels is ready to sign a temporary “framework” agreement that sets the US president’s “reciprocal” tariffs at 10 per cent while talks continue,