In the past, Trump has targeted tariffs at individual countries such as China or certain industries, for example steel.
But his election campaign pledge to impose taxes of 10% to 20% on all foreign goods could affect prices all over the world.
Last month, he appeared to single out Europe.
"The European Union sounds so nice, so lovely, right? All the nice European little countries that get together... They don’t take our cars. They don't take our farm products," he said.
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