The prices of coffee and orange juice could be impacted if no trade agreement is reached by the deadline. Tariffs could also contribute to higher beef prices.

Brazil's government expects the 50% tariff U.S. President Donald Trump announced earlier this week on all goods from the South American country to have little impact on its economic growth this year,

RIO DE JANEIRO (AP) — Brazilian President Luiz Inácio Lula da Silva said Thursday that he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50% over the South American country’s criminal trial against his predecessor, Jair Bolsonaro.