Who pays for these tariffs? Most economists reckon that ordinary Americans will lose out, as prices in shops rise. Mr Trump and his coterie, by contrast, blithely insist that the rest of the world will shoulder the load by cutting their selling prices. So far, the evidence is giving the know-nothings a glimmer of hope.

With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

Trump’s tariffs on Canadian steel and aluminum, autos and goods not covered by the U.S.-Mexico-Canada trade agreement have upended the status quo. He has threatened to raise some of those tariffs to 35 percent by Aug. 1. Canada sends more than 75 percent of its exports to the U.S.