U.S. President Donald Trump wasted no time implementing his agenda as his second Oval Office term commenced. As part of his “Make America Great Again” policies, Trump has shredded the playbooks that have governed international trade and, indeed, the world order for decades.

Trump’s tariffs are forecast to slow the global economy sharply this year, the International Monetary Fund said.

Analysts at the International Monetary Fund said trade fights will take a big chunk out of the U.S. and global economies this year the longer they drag on.