The administration says the tariffs could bring in $50 billion each month. President Donald Trump celebrated the start of his long-awaited tariffs Thursday, declaring that money was “flowing into the USA at levels not thought even possible!

Germany, which sends 10% of its exports to the U.S. market, saw industrial production sag 1.9% in June as Trump's earlier rounds of tariffs took hold. “The new tariffs will clearly weigh on economic growth,” said Carsten Brzeski, global chief of macro for ING bank.

Despite the uncertainty, the White House is confident that the onset of his tariffs will provide clarity about the path for the world's largest economy. Now that companies understand the direction the U.