Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.

SAO PAULO (AP) — President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there’s no agreement by Aug. 1.

US trading partners trying to navigate the final weeks of negotiations before President Donald Trump’s so-called reciprocal tariffs hit are facing a leader who has made clear he’s lost patience with talks.

President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.

Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.

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

Money managers from Aberdeen Group Plc to Franklin Templeton are staying bullish on Brazil, betting the country will withstand its unexpected turn in the epicenter of Donald Trump’s trade war. One reason: The fairly closed Brazilian economy,