Volatility in Brazilian assets soared as traders rushed to assess the endgame of President Donald Trump’s threat to impose 50% tariffs on all goods from the South American nation. A measure of one-month swings for the real jumped to the highest since April as the currency went from the worst to the best in emerging markets in the span of an hour.

Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%

The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.

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

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 Donald Trump singled out Brazil for import taxes of 50% on Wednesday for its treatment of its former president, Jair Bolsonaro, showing that personal grudges rather than simple economics are a driving force in the U.

President Donald Trump put Brazilian politics front-and-center Wednesday in a letter declaring a new 50% tariff on U.S. imports from the Latin American nation set to begin Aug. 1, citing mistreatment of longtime ally and former Brazilian President Jair Bolsonaro.

U.S. corn exports and export sales are still on fire despite the imminent ramp-up of Brazil’s corn shipping season, and the U.S. government might need to up its export target yet again.

President Trump defended former President of Brazil Jair Bolsonaro in his threats to hit Brazil with a 50% tariff. Brazil's current President Luiz Inacio Lula da Silva said his country will respond with reciprocity.

President Donald Trump’s plan to hit Brazil with a 50% import tax on Aug. 1 threatens to increase prices for coffee and orange juice, two of the South American country’s key products.

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

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.