The exchange with the South American nation suggests the U.S. president also sees trade as a tool to influence other policies of foreign countries.

What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

President Donald Trump sent out a slew of letters Wednesday to some global trading partners, advising them of tariff levels as high as 50% for their exports to the United States.

Donald Trump's 50% tariff on Brazilian imports has ignited a diplomatic clash with President Lula, who decried “tutelage” and vowed retaliation. Trump

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Brazil avoided Trump's tariffs until Wednesday, when Trump threatened to slap 50% tariffs on Brazil imports into the US.

In a letter to Lula earlier in the week, Trump linked the proposed tariffs to Bolsonaro’s ongoing prosecution, leaving little room for Brazil to maneuver. Lula, speaking to TV Globo, condemned Trump’s rationale as “extremely outrageous,” stating that Bolsonaro “didn’t just try to stage a coup—he tried to prepare my death.”

Emerging market currencies extended declines on Wednesday as investors mulled the implications of US President Donald Trump’s trade regime, while weak Chinese price data also weighed on sentiment.

Stock indexes edged higher on Thursday, with investors weighing the latest trade announcements from U.S. President Donald Trump, while the Brazilian real recovered some losses following Trump's announcement of a 50% tariff on goods from Brazil.