President Donald Trump unveiled sweeping 10% tariffs on all imports to the United States Wednesday, but about 60 countries or trading blocs will see even higher rates in an escalating move that is poised to initiate a global trade war.

Trump’s “Liberation Day” moves saw the introduction of a 10% tariff on all imported goods, and additional import taxes—of varying degrees—placed on 60 other countries.The U.S. and global markets have already started to feel the impact of Trump’s tariffs,