Global financial markets have taken President Trump's tariff adjustments in stride, with Asian and European shares and U.S. futures mostly higher.

The Budget Lab at Yale University estimates that, if the tariffs imposed in 2025 are fully applied, it will result in a cost increase of $2,400 per American household. The lab says import duties are now at their highest level since the Great Depression.

US President Donald Trump has now imposed a 15% import tax on South Korean goods traded between Seoul and Washington. It's less than the 25% levy that Trump had threatened, but many consumers are not taking any chances.