Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week.

Brazil’s annual inflation ticked up further above target as US President Donald Trump rattled Latin America’s largest economy with plans to impose 50% tariffs on all its goods and services. Official data released Thursday showed consumer prices accelerated to 5.

President Donald Trump plans to impose a 50% tariff on Brazilian imports, which will hit coffee drinkers. The U.S. imports most of its coffee from Brazil. Coffee companies may try to mitigate the impact of the tariff by sourcing from other countries,