Since January, Trump has imposed levies on multiple trading partners and imports – including steel and aluminium – roiling financial markets and fanning fears that his plans could tip the world’s biggest economy into a recession.

The president told reporters aboard Air Force One he did not plan to make exceptions to the tariffs, saying: “No, I have no intention of that”.

He instead doubled down on a pledge to impose reciprocal levies as soon as April 2 to remedy trade practices Washington deems unfair, raising the potential for more products and trading partners to be specifically targeted.

“April 2 is a liberating day for our country,” he said.

“Billions of dollars have already come into our country and the big money is coming in from April 2”.