Businesses across multiple industries are increasing prices, cutting financial guidance and warning of growing uncertainty as U.S. President Donald Trump's trade war pushes up costs, up-ends supply chains and stirs concerns about the global economy.

The overall impact depends on whether President Trump continues to ease the duties he initially introduced or decides to pursue his original, aggressive approach. But some specific effects are already coming into focus.

Beijing continues to be willing to endure economic hardship to put pressure on the U.S., even as the Trump administration hints at a more conciliatory approach.