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.

Trump announced a 50 percent tariff on all Brazilian goods, escalating a feud over Brazil’s prosecution of former president Jair Bolsonaro. Brazil vowed to retaliate.

The U.S. will charge a 50% tariff on Brazilian goods starting on Aug. 1, President Trump announced in a letter to the Latin American country’s government on Wednesday, citing legal action against its former President Jair Bolsonaro and U.

The president was following through on an earlier statement that he would target a key metal used for semiconductors, lithium ion batteries and more.

President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances.

President Trump's "Liberation Day" tariffs have been pushed back to August 1, but for consumers and businesses, the push is on to avert the potential impacts on their wallets and bottom lines. Tax expert Karla Dennis is Jim's guest on "The Final 5.