Donald Trump’s “Liberation Day” tariff announcement set off the most volatile stretch of his second term, with financial markets descending into chaos, China unleashing retaliatory measures and the US president pausing some levies only hours after they took effect.

Inflation regularly topped 4% yearly until the mid-1990s, when freer trade and globalization began to intensify.

Experts called Trump's raft of tariffs "worse than the worst-case scenario." There's been a pause, and exemptions -- with things moving fast, here's what to know.

If you like learning English from the news, click here. How are Trump's latest tariffs affecting the global economy? Myanmar is in mourning after an earthquake killed at least 2,700 people Thousands of people protest in Turkey after Erdogan's main political rival jailed The US and Russia have agreed to start negotiations for ending the war in Ukraine Why has Trump started imposing tariffs on imports into the USA?

With President Trump continuing with his plan to impose tariffs on all imports into the United States, some local businesses are feeling the heat. President Trump announced tariffs on all imports into the country.