Washington | In a major contrast to his first term in office, Donald Trump is dropping his global tariff bombshells at warp speed – partly because he needs the money.

The US president took more than a year in his first term to begin imposing tariffs, but this time it’s only been a few weeks. His levies on China, and now all steel and aluminium imports, are set to roil markets and trading partners, including potentially Australia. And while he has pulled back from a trade war with Canada and Mexico, he warns more tariffs are coming.