Earlier that day, President Donald Trump threatened to implement a 25% tariff on all U.S. imports from Colombia, the South American nation that is the world’s third-largest supplier of coffee. The tax would double a week later, Trump said, if Colombian President Gustavo Petro didn’t agree to the details of a migrant deportation plan.

But there’s no doubt that a two-time president who has referred to himself “Mr. Tariff” is a fan of taxing imports, a tactic that was widely used in the country’s first century before falling out of favor after World War II.

Trump’s tariffs could upend world trade and prompt domestic production. In recent months, plenty of business executives have said they were taking a wait-and-see approach to U.S. President Donald Trump ‘s broad threats of tariffs.

President Donald Trump has threatened to slap dozens of countries with specialized tariffs, along with taxes on imports that would affect every other nation. That could affect trillions of dollars in trade,