The president typically ties his tariffs to trade policy, but he hit Brazilian products with the highest rate of any country's goods largely due to politics.

The president has pitched his trade policies at workers who feel left behind by globalization. But that doesn’t mean trade barriers will revive factories and close income gaps.

U.S. President Donald Trump's latest wave of tariffs on exports from dozens of trading partners sent global stock markets tumbling on Friday and countries and companies scrambling to seek ways to strike better deals.