Donald Trump's trade advisers were finalizing plans on Wednesday for the reciprocal tariffs the U.S. president has vowed to impose on every country that charges duties on U.S. imports, ratcheting up fears of a widening global trade war.

From the moment Donald Trump stepped into the White House again, his administration moved to impose high trade tariffs on multiple countries, ranging from 10%-25%. Some, such as Mexico and Canada, which have existing trade agreements with Washington,