Trump's biggest first-term trade impact was to shatter decades of political consensus favoring ever-lower trade barriers.

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,

As investors the world over brace for a global trade war with U.S. President-elect Donald Trump returning to the White House next week, several economists and strategists believe his proposed hefty tariff hikes could well be a negotiation tool.