Carl Weinberg, chief economist at High Frequency Economics discusses President Trump's imposition of the biggest tax increase in the history of the U.S., and what this will mean for the country's economy.

Fast Retailing - owner of Japanese fashion giant Uniqlo - is forecasting record sales but has conceded that tariffs will take a bite from profits and prompt price rises.

Trump slapped a 50% tariff on Brazil, and Brazilian President Luiz Inacio Lula da Silva said his country would respond.

Instead of viewing tariffs as part of a broader trade policy, President Trump sees them as a valuable weapon he can wield on the world stage.

US President Donald Trump unveiled a new round of tariff demand letters on Wednesday with levies set to hit in August on imported goods from partners who fail to reach agreements with the US.

President Trump is threatening new 50% tariffs on copper and up to 200% on pharmaceutical imports. He also announced new tariffs on six countries. NBC News' Vaughn Hillyard reports the latest. Veda Partners Managing Partner Henrietta Treyz and University of Michigan Professor of Economics and Public Policy Justin Wolfers join Katy Tur to break down the economic impact of Trump's policies on Americans.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,

While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%. Both Japan and South Korea saw first-quarter gross domestic product contract on a quarter-on-quarter basis.