Donald Trump is showing why independent central banks are a good idea. The president’s double tirade against Federal Reserve Chairman Jerome Powell on Thursday conjured another dark cloud over financial markets and an economy repeatedly traumatized by his tariff and trade-war chaos.

Trump tariffs in 2016 sent a glut of cheap Chinese imports, originally intended for the US, into South East Asia, hurting many local manufacturers. But they also opened new doors for other businesses, often into global supply chains that wanted to cut their dependence on China.

Beijing’s suggestion that they form a united front against Trump as the U.S. allies try to negotiate lower tariffs.

"There will be a trade deal 100%," Trump said ahead of a luncheon at the White House with Italian Prime Minister Giorgia Meloni. "I fully expect it."

Ford is warning its dealers that tariffs will likely raise prices in the coming months, the latest impact the import taxes will have on Americans’ finances.

Handbags, scarves and other goods sold in the United States by French luxury brand Hermes will cost more in May due to tariffs imposed by President Donald Trump.