US President Donald Trump has announced sweeping tariffs on global trade, adding taxes of as much as 50% to imports from some countries. The tariffs, he says, are “reciprocal” – calculated to address currency manipulation and trade barriers that other countries place on the US.

Trump’s “Liberation Day” moves saw the introduction of a 10% tariff on all imported goods, and additional import taxes—of varying degrees—placed on 60 other countries.The U.S. and global markets have already started to feel the impact of Trump’s tariffs,