President Trump is again amping up his trade threats, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. The highlight of his letter barrage late Wednesday was his announcement of a coming 50% tariff on goods from Brazil in a letter sent to its president,

Financial markets ignore the lack of clarity from the Trump administration over tariffs, though corporate America feels frustrated at the lack of direction. Mohamed El-Erian – Chief Economic Adviser at Allianz – explains what happens next.