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Michelle Gavin, a senior fellow for Africa policy studies at the Washington-based Council for Foreign Relations, said the way the new tariffs have been calculated "makes no sense at all" to economists.

Key drivers of Los Angeles’ economy — trade and logistics — will be hard hit by the tariffs announced by the Trump administration, economists say.

Trump has said the tariffs will boost US economic growth, but some economists have warned of a slowdown in the US and in the global economy.

Confusion over the details — and the fact that the rates Trump announced were much higher than most economists anticipated — has sent stocks tumbling and businesses and global leaders scrambling for clarity.

Only 1% of economists said they thought the Trump move would improve America’s balance of trade.