President Donald Trump's wide-ranging tariffs announced on Wednesday are designed to project strength, raise revenue for tax cuts and revive US manufacturing. But skeptics say the tariffs will pull the rug out from under a global trade system that — despite its flaws — has delivered prosperity for many global players for decades.

Tariffs risk slowing growth and making inflation stickier, a tricky combination for the central bank as it debates what to do about interest rates.

The penalties announced on Wednesday unleashed turbulence across world markets and drew condemnation from other leaders facing the end of an era of trade liberalization that has shaped the global order for decades.

Financial markets continued to slide and pushback against Trump's tariffs continues to grow, both in the U.S. and abroad.

President Donald Trump’s new reciprocal tariffs are set to hit some of the world’s poorest nations the hardest, putting their labor-intensive export industries at risk and diminishing one of the US’s biggest economic advantages over rival China.

Donald Trump’s tariffs on global US imports will dent the UK government’s fragile growth ambitions and hit key manufacturing sectors, industry groups and economists have warned. The 10 per cent levy — while less than the 20 per cent faced by the EU — will weaken demand and disrupt supply chains,