Brazil has yet to hear a response from Washington about an offer it made in trade talks two months ago, Vice President Geraldo Alckmin said on Monday, after U.S. President Donald Trump slapped much higher tariffs on Brazil last week.

The fight is rooted in years of political history between President Trump and the last two presidents of Brazil.

National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."

How a Trade War With Brazil Could Brew Trouble for U.S. Coffee Consumers originally appeared on Parade. U.S. coffee drinkers may face some uncertainty in the months ahead, as the Trump administration considers a 50-percent tariff on imports—an action that could drive up coffee prices nationwide.

Nobel Prize-winning economist Paul Krugman believes tariffs President Trump has threatened to impose on countries, including Mexico and Brazil, are here to stay and will cost U.S. consumers.

Facing growing chaos, the European Union and numerous other countries are seeking to forge a global trading nexus that is less vulnerable to American tariffs.

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. One reason: The fairly closed Brazilian economy,