President Donald Trump announced a 30% tariff on goods imported from the EU and Mexico, triggering global reactions. Leaders and economic experts express concerns over potential economic disruptions and trade conflicts.

U.S. consumers face an effective U.S. tariff rate of more than 20%, the highest since the early 1900s, the International Chamber of Commerce has estimated following President Donald Trump's import levy announcements this week.

In a major escalation of global trade tensions, the United States has proposed tariffs of up to 500% on critical imports linked to Russia, directly impacting the expanding trade routes between Russia and both India and China.

Many countries thought they were negotiating in good faith. The White House renewed its “reciprocal” tariff plan anyway, giving countries until Aug. 1 to make offers.

The latest US tariff extension went by without any major global market reaction as Trump pushed the deadline to 1 August

President Donald Trump said at least seven countries can expect tariff letters on Wednesday morning, as he ramped up pressure on nations to strike deals with the United States by saying his new August 1 deadline would not be extended.

Stocks have hit new highs despite President Trump’s escalating trade war. Some traders may be calling his bluff, but Jamie Dimon of JPMorgan Chase advises caution.