President Donald Trump in recent days slapped tariffs as high as 50% on dozens of countries, restoring the type of aggressive trade policy that sent stocks plummeting a few months ago. The new round of levies prompted little more than a shrug on Wall Street.

President Donald Trump is set to inform trade partners about new U.S. tariffs, effective August 1. This move underscores his preference for straightforward actions over complex negotiations, as the deadline for agreements looms.

European Union officials have drawn up plans to impose levies on American imports, but questions abound about whether they would go through with them.