Money managers from Aberdeen Group Plc to Franklin Templeton are staying bullish on Brazil, betting the country will withstand its unexpected turn in the epicenter of Donald Trump’s trade war.

President Donald Trump announced a blanket 50% tariff on imports from Brazil, citing his anger over the country's treatment of its former president, Jair Bolsonaro. Trump's tariffs would be imposed using the International Emergency Economic Powers Act,

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

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.

President Trump says Brazil’s former right-wing leader, President Bolsonaro, who is standing trial in Brazil for allegedly plotting to assassinate his left-wing successor, is an honest man. Mr. Trump is threatening Brazil with a 50 percent tariff due to Mr.

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

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.