The reimposition of Trump's higher tariffs, and also retaliatory measures from U.S. trading partners who did not reach a deal in time, threatens to pull global trade back to where it was in April, with widespread disruption, market volatility and looming economic pain.

The recent announcement by President Donald Trump to impose a 10% tariff on countries aligning with BRICS' anti-American policies has sparked strong reactions from China and Russia.

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, including levies of 25% on goods from Japan and South Korea,

U.S. President Donald Trump signed an executive order Monday extending the date on which so-called "reciprocal" tariffs will take effect to August 1. The previous deadline had been July 9. (Reporting by Christian Martinez;