U.S. President Donald Trump threatened Brazil with 50% tariffs this month, venting his anger over the country's prosecution of his political ally, former President Jair Bolsonaro, but the move may provide ammunition to plaintiffs aiming to bring down the centerpiece of the White House's tariff agenda.

US President Donald Trump’s threat to slap a 50 per cent import tax on goods from Brazil has sparked anxiety in the country’s farms and ranches over the potential damage to its world-leading shipments of orange juice, coffee and beef.

Brazil central bank’s strategy to keep interest rates high for a prolonged period will be put to the test by the 50% tariffs Donald Trump is expected to slap on the country as soon as this week.