New fees will hit fresh tomatoes imported from Mexico starting in July unless a new bilateral agreement is reached.

European shares fell on Thursday, while the dollar rose as traders took some heart from trade talks between the U.S. and Japan, and gold hit a new record as Federal Reserve Chair Jerome Powell added a note of caution about the growth outlook.

The Trump administration's tariff war with China is most often seen through the lens of the economy. But to many economists, the bigger threat is that Trump's global trade gambit will erode the United States’ main source of global authority: the long-term geopolitical relationships it has cultivated over nearly a century.