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

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,

Brazil’s President forcefully rebuked Trump after the U.S. leader called the prosecution of Lula’s predecessor, Bolsonaro, a “witch hunt” and hiked tariffs on the Latin American nation.

U.S. President Donald Trump said he plans to impose 50% tariffs on all products from Brazil starting August 1, which could have a sharp impact on South America's agricultural powerhouse.

President Trump is threatening Brazil with a 50% tariff, citing a "witch hunt" against the country's ex-President Jair Bolsonaro. NBC News Business and Data Correspondent Brian Cheung reports more. CNBC Senior Analyst and Commentator Ron Insana joins Chris Jansing to break down the economic impact on Americans.