Trump has touted the $125 billion in revenue his already-existent import taxes have brought in, with hundreds of billions more pledged by a handful of nations in the form of investments. Yet it’s come at the cost of slower economic growth and the prospect of already stubborn inflation reheating.

U.S. trade partners around the world were reacting on Friday to President Donald Trump 's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face a fresh test from the president's trade agenda.

President Trump on Thursday outlined tariff rates on dozens of trade partners, taking a step toward further reshaping the US trade landscape. Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all partners.