Trump has railed against value-added tax as a burden to U.S. companies, although economists say this kind of tax is trade-neutral because it applies equally to imports and exports. Value-added tax, or VAT, is paid by the end purchaser at the cash register but differs from sales taxes in that it is calculated at each stage of the production process.

President Donald Trump announced Sunday that he plans to impose a 100% tariff on films produced overseas, extending his restrictive trade policies on US imports to the entertainment sector for the first time.

An unprecedented two-day surge in Taiwan's currency is the latest leg of a scramble out of the U.S. dollar and signal of disquiet in markets as U.S. President Donald Trump's trade war rattles confidence and disrupts trade relationships.

The Taiwan dollar surged to its strongest level in over two years on Monday, driven by optimism over U.S.-Taiwan trade negotiations and robust foreign inflows into local equities. The TWDUSD pair dropped 3.

The Taiwan dollar led Asian currencies higher versus the U.S. dollar amid hopes for China-U.S. trade talks.

Warren Buffett criticized tariffs and trade wars during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, on May 4.

The first question for Warren Buffett at the Berkshire Hathaway annual shareholder meeting involved world trade as President Trump's tariff policy disrupts the status quo.