America’s Brexit? Trump’s historic gamble on tariffs has been decades in the making

Trump's economic assault on the world stunned economists and sent stock markets into a spiral. Who will pay the price?

• It could've been much worse': how UK avoided a bigger blow from Trump tariffs

Donald Trump's vast overhaul of US trade policy this week has called time on an era of globalization, alarming people, governments and investors around the world. No one should have been surprised, the US president said.

The announcement of 10% to 50% tariffs on US trading partners tanked stock markets after Trump unveiled a declaration of economic independence" so drastic it drew comparison with Britain's exit from the European Union - Brexit.