"The best estimate of the loss from tariff policy is now closer to $30 trillion."Summers added that the tariffs were the most expensive and "masochistic" the US had imposed in decades.Mohamed El-Erian"The price action in global financial markets in the immediate aftermath of the US tariff announcement points to major worries about global economic growth,

US president Donald Trump announced his sweeping global tariffs that will affect the price of importing goods into the US, but there are some eye-raising exceptions. On Wednesday (2 April) Trump announced tariffs as high as up to 50 per cent on imports entering the United States.