Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty.

U.S. President Donald Trump's tariff decisions since he took office on January 20, from imposing sweeping duties to abruptly pausing some of them, have shocked financial markets and sent a wave of uncertainty through the global economy.

While some of President Donald Trump's so-called "Liberation Day " tariffs have already started, others have been paused or rolled back while the president conducts negotiations with trade partners. All the back and forth makes it difficult to keep track of where they all stand and how they might influence prices.

The Trump administration has made moves to ease tariff tensions with China, but the situation remains uncertain in the longterm.

The curtain came down on the first phase of President Trump’s tariff and trade war earlier this week, when the U.S. announced a huge reduction in levies with China. Washington and Beijing agreed to take 115 percentage points off the tariffs they had imposed upon each other’s exports at the apex of the brief

The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.