Donald Trump is promising to put import taxes back at the center of US economic policy during his second term as US president. The country heavily taxed imports for much of its history before largely abandoning the policy,

The Lib Dems are pointing to a recent study suggesting 20% tariffs - or charges - on UK exports to the US could cost the British economy £22bn a year. Lib Dem leader Sir Ed Davey said the public deserved to know the level of risk to the UK's economy, jobs and living standards, and called on the government to "come clean" now.

Trump’s victory was celebrated but not by nations like China. Reason being? His tariff history and current tariff promises. Tariffs are a tool that President Trump and his team are well-acquainted with.