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What to Know
- Fallout from the Trump administration’s aggressive global tariff regime continues to hit global markets and frustrate geopolitics, with the president has shown no signs of backing down.
- Long-standing U.S. allies across most of the world’s largest economies reacted with a mixture of anger and despair as they vowed retaliatory tariffs and hinted at some of the measures they plan to use to soften the blow to their own economies.
- Countries seeking to sell goods to the United States will face taxes as high as 54% based on how the White House is calculating duties on U.S. exports, as well as “nonmonetary” trade barriers in response to countries’ doing such things as manipulating their currencies or serving as “pollution havens.”
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