The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

Following the launch of President Donald Trump’s trade war, it now has an “effective” tariff of over 16%, the highest since the 1930s (see chart 1). And rates could go even higher. Mr Trump has written strongly worded letters to many of America’s biggest trading partners threatening further levies on August 1st.

Asked about a tariff rate "for the world," as Mr. Trump put it, the president responded, "I would say it'll be somewhere in the 15 to 20% range." The U.S. president made the remarks seated alongside U.