The U.S. can either spend taxpayer money to help U.S. businesses export to the world (subsidies) or it can collect taxes so that it has more money to spend (tariffs).

Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.

Donald Trump also signed a legislation to amend the Controlled Substances Act regarding the scheduling of fentanyl-related substances.

The U.S. President was now reportedly seeking “quick wins” with China, rather than addressing the substantial trade deficits between the two countries.

China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

President Donald Trump is readying plans for industry-specific tariffs to kick in alongside his country-by-country duties in two weeks, ramping up his push to reshape the US’s standing in the global trading system by penalizing purchases from abroad.

When U.S. President Donald Trump met five African leaders in Washington in July, his lack of familiarity with the continent was on display. He praised Liberian President Joseph Boakai’s English — Liberia’s official language — and gestured at another leader to wrap up remarks.