President Donald Trump launched the latest salvo in his trade wars last week, sending a slew of letters to U.S. trading partners threatening to impose higher tariffs starting Aug. 1. The letters, posted on social media last week,

The EU will delay its plan to hit the US with tariffs on €21bn of its annual exports to Europe on Tuesday in the hope of coming to an agreement after Donald Trump announced he would hit the bloc with 30 per cent tariffs from August 1.

If he moves forward with the tariffs, it could have ramifications for nearly every aspect of the global economy.