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

"I’ll be watching the WITCH HUNT of Jair Bolsonaro, his family, and thousands of his supporters, very closely," Trump stated. "The only Trial that should be happening is a Trial by the Voters of Brazil — It’s called an Election." The one area where Trump and Bolsonaro differ is in their pre-politics past.

President Donald Trump is threatening to impose 50% tariffs on Brazilian imports — a move that could spike prices of breakfast staples like coffee and orange juice.

Brazil believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.

In a letter to President Luiz Inácio Lula da Silva of Brazil, Mr. Trump wrote that the new tariffs would take effect on Aug. 1. “The way that Brazil has treated former President Bolsonaro, a Highly Respected Leader throughout the World during his Term, including by the United States, is an international disgrace.”

President Trump's announcement that the U.S. will stick a 50% tariff on Brazilian goods whacked some of the country's

Shares of Brazilian planemaker Embraer fell sharply on Thursday after U.S. President Donald Trump said he would impose a 50% tariff on all imports from the South American country.

The fight is rooted in years of political history between President Trump and the last two presidents of Brazil.