Former President Trump has outlined plans for a global baseline tariff rate ranging from 15% to 20%, potentially affecting trade with numerous countries lacking specific agreements with the U.S. As trade tensions escalate, Trump emphasizes that these tariffs could significantly reshape global supply chains and economic relations. Analysts warn that the ongoing tariffs may cost the world economy up to $2 trillion, while some economists suggest preparations for a volatile market environment as critical deadlines approach. The situation remains fluid, with conflicting perspectives from Wall Street and the White House regarding economic impacts. As Trump moves forward with his tariff strategy, both domestic and international stakeholders brace for the consequences of these trade negotiations.