Trump's raft of tariff plans have been dubbed "worse than the worst-case scenario," and markets have whipsawed all over the place as the specifics have been altered.

President Donald Trump’s trade war with China has escalated even as other countries got a partial reprieve, threatening the relationship between U.S. manufacturers and retailers and one of America’s largest trading partners.

Treasury Secretary Scott Bessent wants trading partners to limit China’s involvement in their economies in exchange for concessions on reciprocal tariffs.

The White House is now negotiating trade deals with dozens of countries after President Donald Trump paused the worst of his sweeping tariffs for 90 days, with negotiators from Japan visiting the White House on Wednesday, as foreign countries suggest the pause will give them breathing room as they seek to reach deals with the Trump administration.

Meanwhile, Trump said in his Monday Oval Office meeting with El Salvador President Nayib Bukele that he was considering tariff exemptions on imported components for U.S. auto manufacturers as they switch to parts manufactured in the U.

President Trump signaled he would impose tariffs on pharmaceutical drugs and semiconductor chips. After announcing this weekend that some electronics, including smartphones, would be exempt from “reciprocal” tariffs,