Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty. Trump launched a trade war during his first term as well,

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

Both countries have agreed to reduce reciprocal tariffs by 115% for an initial 90-day period as talks continue.