The 10% or greater tariffs on imports from most countries worldwide announced Wednesday by President Donald Trump earned a scathing reaction from the top U.S. economist at the U.S’ biggest bank, JPMorgan Chase, leading a cold response from Wall Street to Trump’s plans to upend the global trade order.

The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board.

China is "perhaps the biggest loser" in America's new trading regime, said The Telegraph. Trump imposed 34% reciprocal tariffs on all Chinese goods – and analysts believe that's in addition to the two rounds of 10% tariffs Trump has already imposed, meaning a combined tariff of 54%.

Donald Trump came into office in January following his first-ever popular vote victory, along with other indications that he was more popular than he ever had been during his first term. It’s long been expected that Trump’s approval rating might start to drop once he started doing things,