Tariffs have historically triggered market volatility. When the Trump administration announced tariffs on China, markets dropped sharply before making a near-total recovery that same day. Investors should focus on long-term goals and consult their financial advisors before making portfolio changes.

Trump wants to reduce the $1.2 trillion trade deficit, so he’s putting tariffs on popular imported goods from smartphones to household appliances.

President Trump's tariffs that targeted Canada, Mexico and China before being expanded to all steel and aluminum imports have not only triggered trade wars, they're also leading to a "Boycott USA" global consumer backlash against U.