Trump invoked a law called the International Emergency Economic Powers Act on April 2 to set a blanket 10% tariff on all imports and, initially, additional duties on almost 60 countries that have the largest trade surpluses with the US.

The markets have continued to sour on President Donald Trump’s tariffs on nearly all imports to the United States. Major stock indices have been on successive roller coasters of daily trading, reacting positively to indications the president might relent but then quickly falling after Trump signals he plans to stay his course.

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