Estimates by the Kiel Institute for the World Economy, a German economic research institute, showed that the tariffs would lead to a 20 percent drop in exports from the European Union to the United States in the short term, as well as a more than 6 percent increase in prices in the United States.

Stock markets declined after the president’s early-morning threats of 25 percent import taxes on iPhones and 50 percent on goods from Europe.

In a surprising move, the United States government recently whacked Lesotho with a punishing 50% tariff. This bold move has definitely stirred a worldwide anticipation for the outcome to better understand the potential impacts on international trade and partnerships.