Donald Trump, on Friday afternoon, oversaw the swearing-in of his new top tariff official, confirmed a plan that will likely consider digital service taxes as akin to tariffs, and again promised to impose reciprocal tariffs "soon.

Since returning to office last month, U.S. President Donald Trump has initiated numerous tariffs and made even more frequent threats to impose levies on imported goods.

U.S. consumer sentiment dropped more than expected in February to a 15-month low and inflation expectations rocketed as households worried that President Donald Trump’s plans for steep and broad-based tariffs would eat into their purchasing power.