Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty. Trump is no stranger to tariffs.

Economic analyst Peter Schiff wrote on X: "Investors are excited about Trump's trade deal with the U.K., our first victory in the trade war. The effective tariff rate on U.S. goods entering the U.K. is 0.5 percent. So, from the American perspective, what we stand to win from the deal is relief from Trump's tariffs on U.K. imports."