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Fears that President Trump’s tariffs could slash global economic growth — and demand for oil — were weighing on the market.

The president’s aides insist the fallout will be short and ultimately result in a better economy, as economists warn of higher inflation and slower growth.

A nonprofit group said the president misapplied a law in imposing those levies and portrayed its filing as the first lawsuit to challenge the Trump administration over its tariffs.

The president announced sweeping tariffs on Wednesday in an effort to reset global trading relationships. Here’s what you need to know.

Mark Carney, a former central banker, also called on ‘like minded nations’ to form a new trading order without the United States.

The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President Trump imposed on car and auto parts imports.

The U.S. economy has largely withstood inflation and high interest rates. But tariffs could bring new price increases and put a damper on hiring.

Some of the more sparsely populated territories in the world that do little trade with the United States have been caught up in the trade war.

Economists and legal experts question how the strongest economy in the world can be facing a national emergency over the trade deficit.