By Mark John, Francesco Canepa and Leika Kihara LONDON/TOKYO (Reuters) -The latest round of U.S. trade tariffs unveiled on Wednesday will sap yet more vigour from a world economy barely recovered from the post-pandemic inflation surge,

Business leaders, consumers, and investors may learn more about Trump’s additional import duties on Wednesday, but their hesitation to commit to future spending may remain for much longer.

President Donald Trump and his advisers landed on tariffs of at least 10% on imports, with nearly 60 countries and the EU facing even higher taxes.

The tariff policies risk causing an economic slowdown as consumers and businesses could face sharp price hikes on autos, clothes and other goods.

The White House is taking a top-down approach in making sure Republicans are united on President Donald Trump's sweeping tariffs plan. U.S. trade representative Jamieson Greer briefed House Republican staffers on the administration's strategy on Wednesday evening,

Trump said the nation would feel some financial pain due to tariffs. We're already in the thick of it.

Trump has dubbed Wed, April 2, as 'Liberation Day' as he seeks to impose a slew of new tariffs. Some have questioned his tariff strategy.

March 26, 2025: President Trump announces a 25% tariff on almost all imported cars to be effective April 3, 2025, and on key auto parts planned for May 3. March 12, 2025: The U.S. announces Increased tariffs on steel and aluminum to 25% globally. March 4, 2025: Trump increases tariffs on Chinese imports to 20%.

President Trump hopes to use reciprocal tariffs to boost national self-sufficiency while unleashing a jobs boom. What’s less clear is whether they can work.

The unprecedented levies Trump announced on U.S. allies and adversaries alike represent a turning point for the U.S. economy.