President Trump announced tariff rates for dozens of countries Thursday that will take effect Aug. 7, potentially upending the global trade system. Trump signed an executive order that modified tariff rates for dozens of countries after he had twice delayed plans to implement “reciprocal” tariffs on other nations.

"He's elected to assess the foreign affairs situation in the United States and take appropriate action," Jamieson Greer said Sunday.

U.S. President Donald Trump holds a chart next to U.S. Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2,