A Boeing jet intended for use by a Chinese airline landed back at the planemaker’s U.S. production hub on Sunday, a victim of the tit-for-tat bilateral tariffs launched by President Donald Trump in his global trade offensive.

U.S. Customs and Border Protection announced late Friday that some smartphones, computers, chips and other electronics would be exempted from tariffs, but Trump's top economic advisers hit the Sunday talk shows to explain the policy, saying that tariffs against electronics would be coming in the next month or two.

Three weeks after US President Donald Trump effectively declared a trade war with the whole world, new economic forecasts and surveys will point to the initial fallout.

When Jerome Powell, the chairman of the Federal Reserve, was asked to comment about Trump’s tariffs recently, he said that it would likely lead to high unemployment, slow economic growth, and a rise in inflation.