A 50% tariff on some Brazilian products, including coffee, will begin on August 6, the administration of U.S. President Donald Trump said on Wednesday. The move will challenge commodities traders and Brazilian coffee exporters to find buyers for the roughly 8 million bags sold to U.S. coffee processors every year.

Now, as the 90-day pause on those and other targeted US tariffs is set to expire, Trump has raised Brazil's rate to a whopping 50% – potentially launching a trade war with Latin America's biggest economy, which sells large amounts of beef, coffee, steel and other products to the United States.

The president also touted agreements over hundreds of billions of dollars in foreign investment into the United States.