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

Trump pledged to impose tariffs on Brazil at a rate as high as 50%. He accused the country of "attacks" on US tech companies and of conducting a "witch hunt" against the far-right former President Jair Bolsonaro, a longstanding ally who is facing prosecution over his alleged role in a plot to overturn the 2022 Brazilian election.

President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part because of the treatment of its former president Jair Bolsonaro, his political ally.

Brazil believes it can withstand Trump’s 50 percent tariff, and aides to Lula say he is unlikely to shrink from a confrontation with the White House.

Brazilian state-run oil firm Petrobras elected Angelica Laureano as its new head of energy transition and sustainability, the firm said on Friday.

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,