Trump imposes tariffs up to 40% on 14 countries, pressuring allies to shift production to the US and avoid ties with BRICS. Tensions mount globally.

President Donald Trump has sent letters to 14 countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1

Financial markets ignore the lack of clarity from the Trump administration over tariffs, though corporate America feels frustrated at the lack of direction. Mohamed El-Erian – Chief Economic Adviser at Allianz – explains what happens next.

The last time President Donald Trump rolled out tariffs this high, financial markets quaked, consumer confidence crashed and his popularity plunged.

World shares are mostly higher, with financial markets shrugging off U.S. tariff pressures on its trading partners