Not Brazil. Not Brazilian President Lula. This new 50% tariff is an existential threat to importers like me," said Steve Walter Thomas, chief executive of U.S.-based importer Lucatelli Coffee.

Brazilian beef-packers' lobby Abiec, which represents companies including JBS and Marfrig , on Tuesday estimated losses of $1 billion if the United States applies a 50% tariff on Brazilian exports.

By Brendan O'Boyle (Reuters) -U.S. President Donald Trump signed an executive order on Wednesday imposing a 40% tariff on Brazilian exports, bringing the country's total tariff amount to 50%.