In the process he has raised the average effective tariff on goods entering America from 2.5% last year to about 20%, the highest since the Great Depression. The policy process has been chaotic, to put it politely,

President Donald Trump’s trade tariffs have roiled financial markets, prompted an outcry from world leaders and raised the specter of a US recession. The blowback eventually prompted Trump to pause some of the most punishing tariffs for 90 days.

President Donald Trump said he has not backed down on the 145% tariff on China and said reciprocal tariffs on other nations could resume within weeks.