President Donald Trump’s tariff onslaught this week left a lot of losers – from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland.

President Trump’s tariff onslaught left a lot of losers, from small, poor countries such as Laos and Algeria to wealthy U.S. trading partners such as Canada and Switzerland. But there were no real winners -- including the U.

Brazilian products are subject to a 50% tariff not because of Brazil’s trade policies, but because of Trump’s relationship with Brazil's former president.