"Since 1934, the United States has reduced or eliminated many tariffs as part of bilateral and multilateral trade agreements. By supporting the creation of the GATT and the WTO, the U.S. Congress sought to reduce tariff rates globally within a rules-based trading system. Roughly 70% of all products enter the United States duty free ."

Stan Druckenmiller, Bill Ackman and Jamie Dimon are among those raising concerns about the president’s steep, across-the-globe levies.

JPMorgan CEO Jamie Dimon and noted Wall Street investor Bill Ackman are speaking out about President Trump's tariffs.