Trump’s new 46 per cent tariff will be layered on top of 20 per cent duties already paid on US imports of athletic shoes with textile uppers, according to the American Apparel & Footwear Association.

“We used to have land grabs. Now we are having carbon grabs,” Akinwumi Adesina, the president of the African Development Bank, said of what he described as low prices paid for African carbon credits.