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.

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.

Reporters ask President Trump about the status of his negotiations with China and, in particular, whether he has spoken to Chinese President Xi Jinping amid the ongoing trade war.

Trump tariffs in 2016 sent a glut of cheap Chinese imports, originally intended for the US, into South East Asia, hurting many local manufacturers. But they also opened new doors for other businesses, often into global supply chains that wanted to cut their dependence on China.

President Donald Trump said Thursday he is in “no rush” to reach any trade deals because he views tariffs as making the United States wealthy. But he suggested while meeting with Italian Premier Giorgia Meloni that it would be easy to find an agreement with the European Union and others.

Tariffs are making us rich, - Donald Trump said on Thursday during a meeting with Giorgia Meloni. The U.S. President added that the conversation with the Italian Prime Minister did not change his opinion on the matter.