Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.

President Donald Trump is using his love of tariffs to threaten high-profile American companies. Over the past month, Trump has said he’d like to target two specific and very different companies — Apple and Mattel — with tariffs aimed at their key products over comments by their CEOs.

President Trump would invoke other tariff authorities if his appeal of a trade court's ruling isn't successful, Commerce Secretary Lutnick said.