President Donald Trump's executive order from July 30 affects about $1.7 billion in annual Brazilian chemical exports to the U.S., while exempting only five products, which represented $697 million in sales to the U.S. in 2024.

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.

Latin America’s biggest economy can weather the shock of a high tariff rate. But American coffee lovers and Brazilian ranchers are likely to feel the pain.