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.

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

The U.S. will charge a 50% tariff on Brazilian goods starting on Aug. 1, President Trump announced in a letter to the Latin American country’s government on Wednesday, citing legal action against its former President Jair Bolsonaro and U.S. tech firms as justification for the levies.

A nother deadline passed on Wednesday without President Donald Trump following through on his threats to impose new tariffs. It was 90 days ago that Trump had announced an abrupt pause in his plan to levy new tariffs on countries around the world.

The pause on the biggest of Trump's tariffs is up tomorrow with no sign of extension in sight. President Donald Trump's second term economic plan can be summed up in one word: tariffs. As his barrage of import taxes went into overdrive in recent months,

Wall Street ended mixed a day after a broad sell-off in response to the Trump administration setting new tariffs on more than a dozen nations.