WASHINGTON — President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike.

President Trump detailed his proposed trade policy overhaul in an extensive Truth Social post on reciprocal tariffs targeted at the U.S.'s trading partners.

Existing American tariffs already restrict steel and aluminum shipments from China, which is now flooding other markets with its exports instead.

President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States with no exceptions or exemptions.

President Donald Trump signed executive orders Monday imposing 25% tariffs on steel and aluminum imports, which could potentially affect a slew of trading partners. The tariffs will go into effect on March 12 and apply to the roughly 25 million tons of steel that the US imports each year.