The decision of US President Donald Trump to impose a 10% tariff on most items imported to the United States as well as higher taxes on dozens of nations from rivals to allies has escalated a worldwide trade war threatening to cause inflation and halt development.
The sweeping responsibilities declared under the calm backdrop of the White House Rose Garden on Wednesday instantly set off instability throughout world markets and attracted criticism from other leaders suddenly confronted with the end of decades of trade liberalisation that have formed the global order.
Forbes claims that the US charges 58pc by imposing 29pc reciprocal taxes on Pakistan.
