Economists have been expressing alarm over U.S. President Donald Trump’s plan to hit Brazil with a 50% tariff on Aug. 1 — the largest country-specific levy out of the 22 that Trump has rolled out this week.

Brazilian assets face pressure from new US tariffs, but holding broad index trackers may reduce risk amid volatility. See why major Brazilian ETFs are a hold.

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,

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

President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

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

Blunt letters dictating terms posted to social media and changes late in negotiations have left trading partners wondering what President Trump will do next.