President Donald Trump on Wednesday levied a 50% tariff against Brazil, which produces more than a third of the world's coffee, citing, in part, the country's treatment of former President Jair Bolsonaro,

Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%.

The 50% tariff that the Trump administration has slapped on Brazilian imports has rattled the global coffee market and could make the price of a cup of coffee in the U.S. jump beyond recent highs. Brazil is the world's largest grower and exporter of coffee,