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,

Canada threats, blanket rates and ‘TACO’ create uncertainty for future - America’s trading partners brace for another series of tariff proposals that have blindsided allies

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

Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.

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

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. Adding to the uncertainty are tariff-related legal challenges and Trump's assertion that he would hammer out bilateral deals with trade partners.