Big-name multinationals right down to niche e-commerce players last week cut sales targets, warned of job cuts and reviewed their business plans, while major economies revised down growth prospects amid bleak data read-outs.

President Trump is changing his tune on the economy, suggesting that Americans should buy less and will probably pay more and bear the brunt of an uncertain economic landscape as his wide-ranging tariff policy takes effect.

The trade policies of former U.S. President Donald Trump, particularly his strategy of imposing tariffs on imported goods, are significantly impacting the global economy.