The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.

Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil.

Brazil's President Lula is firing back at Trump's 50% tariff threat — saying Brazil is ready to match any U.S. import taxes, dollar for dollar.