#TrumpTariffs The tariffs imposed by Trump pose a threat to the foundations of free trade that have defined the world for decades and have already unleashed a trade war with traditional allies of Washington like Canada and adversaries like China, which has announced its own tariffs.

Within the U.S., the chairman of the Federal Reserve (Fed) already warned on Friday that Trump's tariffs could translate into higher inflation and lower economic growth, and cautioned that the higher inflation could be persistent and not temporary.

Trump imposed the tariffs by invoking the additional authority he has as president to declare a "national emergency," something he did arguing that the current trade situation posed a risk to the security of the United States.