President Donald Trump just enacted a new wave of tariffs on dozens of America’s trading partners, marking a substantial escalation in ongoing trade tensions that could constitute the biggest change to the global economy in nearly a century.

Trump has argued that tariffs are an effective tool to incentivize manufacturing goods in the U.S. as well as protecting jobs and encouraging consumers to purchase domestic-made products. He’s also leveraged tariff increases to address the flow of illicit drugs and illegal immigrants across U.S. borders.

The Trump administration's tariffs are expected to raise $50 billion a month, with revenue going into the general fund.