A big question in President Trump’s trade war is who will bear the brunt of the tariffs. The president and his advisers have insisted that foreign governments face the costs, not American businesses or consumers.

U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy. Here is a timeline of the major developments: February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China,

The economy was supposed to crumble. The trade war was expected to escalate out of control. Markets were forecast to plunge. None of that has happened. But Trump’s early trade victory may be short-lived.