Trump twinned his threat to Brazil with the promise of a 50% tariff on copper, which would strike at the economic lifeline of two more Southern neighbors, Chile and Peru. The president capped his week by setting a 30% tariff on Mexican imports as of Aug. 1.

Approval for Brazilian President Luiz Inacio Lula da Silva's government rose for the first time this year, a new poll showed on Wednesday, after his U.S. counterpart Donald Trump announced a 50% tariff on imports from Brazil starting in August.

President Donald Trump said Wednesday the U.S. will slap a 50% tariff on Brazil's imports, partly in retaliation for the ongoing prosecution of the country's former president, Jair Bolsonaro.