South Africa urged G20 countries to show global and cooperative leadership to tackle challenges including rising trade barriers, as the club's finance chiefs met on Thursday under the shadow of President Donald Trump's tariff threats.

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.

The Trump administration and many market observers are offering diametrically opposed explanations for why dramatic tariff threats have been met by a ho-hum market reaction. Both can't be right.

Global investors got a harsh reminder of the risks around trade tariffs and U.S. President Donald Trump's deal-making on Saturday after he threatened fresh tariffs on his biggest trading partners in Europe and Mexico.

NATO Secretary-General Mark Rutte visits Washington for talks with President Trump on various geopolitical issues, including tariffs and military aid to Ukraine. Trump's tariff threats against the EU and Mexico,