Brazilian goods imported by the United States will soon carry one of the highest tariffs imposed by President Donald Trump, but that will not likely derail Latin America's largest economy, due to ample exemptions and stronger trade ties with China.

The order comes just two days before an Aug. 1 deadline Trump had set earlier in the month and won't be implemented for seven more days.

Little by little, the costs of U.S. President Donald Trump's tariffs are starting to add up, both for consumers and American companies that are raising prices, reporting tariff-related hits to their profits,