Businesses, investors and the Fed are all operating under a cloud of uncertainty from Trump’s tariff policy. The latest moves give 66 countries, the European Union, Taiwan and the Falkland Islands another seven days, instead of taking effect on Friday, as Trump stated earlier.

Stocks are slumping on Wall Street and Treasury yields are falling sharply after the government reported a sharp slowdown in hiring last month

U.S. trade partners reacted Friday to President Donald Trump's executive order now set to introduce new tariffs on many of them starting Aug. 7 — as the global economy faces another test from the president's chaotic trade agenda.