Trump also plans to impose new tariffs to match the rates charged by other countries. Set to begin as soon as April, the tariffs could be higher than what other countries would charge as subsidies, regulatory barriers and the value added tax — which is akin to a sales tax common in Europe — would be included in the calculations.

Tariffs placed on Canadian and Mexican goods are set to move forward, according to President Donald Trump. A rift is emerging between the east and west of the EU over what to do with Russia’s seized central bank reserves. State-backed North Korean hackers have stolen $1.5bn (£1.2bn) of cryptocurrency in the largest heist in history.

From Maine to Montana to New Mexico, U.S. states across the country will face significant economic issues from President Trump’s trade war on Mexico and Canada.