The president is set to raise tariffs on steel and aluminum this week, even as the courts are challenging the legitimacy of other levies.

President Donald Trump is using his love of tariffs to threaten high-profile American companies. Over the past month, Trump has said he’d like to target two specific and very different companies – Apple and Mattel – with tariffs aimed at their key products over comments by their CEOs.

Trump supports tariffs to balance U.S.-India trade, with Lutnick urging early cooperation and reasonable market access to reduce the trade deficit.

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses,

Fareed Zakaria asks Bill Gates how damaging he thinks Trump’s tariffs are. Hear his response . 01:43 . Now playing

After a few weeks, the earth-shattering 145% reciprocal tariffs on China were reduced. A deal with the UK was announced, but hasn't been made official. The EU and U.S. were on the brink of an all-out trade war but are now back at the negotiating table.

The Trump administration on Monday asked a U.S. appeals court to pause a second court ruling that found the president had exceeded his authority by imposing sweeping tariffs on imports, saying the decision jeopardizes trade negotiations with other nations.

The S&P 500 added 0.4% on Monday, June 2, with steel tariffs and trade with China in the spotlight as markets entered the final month of the year's opening half.