But then financial journalist James Surowiecki concluded that Trump’s retaliatory tariffs were based on a simple formula: a country’s trade deficit, divided by the country’s exports to the United States.

Aides struggled to satisfy the president’s competing priorities before settling on a plan to both raise revenue and boost corporate onshoring.

President Donald Trump on Wednesday unveiled sweeping global tariffs of at least 10% on goods imported from most U.S. trading partners.

President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from corporate America and skepticism from the Federal Reserve chairman and some allies in Congress.

Donald Trump’s 10% tariff on UK products has officially come into force, with global stock markets plunging deeper into the red in response to the imposition of import taxes.Prime Minister Sir Keir Starmer is expected to spend the weekend speaking to foreign leaders about the tariffs,

President Donald Trump offered a rosy assessment after the stock market dropped sharply Thursday over his tariffs, saying, “I think it’s going very well.”