Tariff retaliation and escalating trade tensions might signal the start of a global trade war where, like grass when two elephants clash suffers the most, consumers around the world will bear the brunt the most.

President Donald Trump unveiled sweeping 10% tariffs on all imports to the United States Wednesday, but about 60 countries or trading blocs will see even higher rates in an escalating move that is poised to initiate a global trade war.