Three weeks after US President Donald Trump effectively declared a trade war with the whole world, new economic forecasts and surveys will point to the initial fallout.

When President Donald Trump revealed his “liberation day” tariffs in April, Trey Yates rushed out and bought a pair of $140 ASICS GT-2000 13 sneakers, along with three new shirts.  “I knew I needed to get my purchases out of the way to replace some worn clothes and shoes ASAP” before the tariffs went into effect,

The impact of the trade war between the U.S. and China is being felt on both sides of the Pacific. Businesses, large and small, have been forced to halt production and cancel orders as Trump's tariffs go into effect.