Proposed steep tariffs on overseas goods by the US administration have raised concerns among major economies and businesses, prompting fears of significant disruption to global trade routes and negotiations.

The US President has threatened new tariffs on Chinese imports, prompting market turbulence as Washington pressures Beijing to retreat from its retaliatory stance.

Senior officials have dismissed market jitters and insisted on pressing ahead with imposing tariffs despite recession worries, affirming an uncompromising stance on trade measures and sparking investor unease.

A prominent figure remains defiant amid escalating trade tensions, unsettling global markets with fears of a severe downturn and prompting observers to draw parallels with past major economic crises.