VINACHEM

Oil prices fell by as much as 3% on Thursday after US President Donald Trump announced sweeping new tariffs that investors worry will spark a global trade war that will curtail economic growth and limit fuel demand. 

The Trump administration is set to slap a broad set of tariffs on imported goods. Similar policies have had a range of impacts in the past. 

US President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish. 

China vowed to retaliate after being hit with Donald Trump’s biggest tariffs yet, which threaten to decimate trade between the world’s largest economies. 

Vietnam, which deployed a Trump administration charm offensive by slashing levies on imports and vowing to buy more big-ticket US products to protect its trade-reliant economy, failed to avert one of the largest tariffs announced by the White House. 

We might think of him as a tax-cutter, an enemy of big government, and an instinctive ally of businesses and consumers, and in his first term he certainly was. And yet as his second term takes shape, President Trump is morphing into something very different. 

U.S. President Donald Trump said on Sunday that reciprocal tariffs he is set to announce this week will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.