Reuters estimated business losses from Trump's trade wars at over $34 billion.

The foreign trade standoff initiated by US President Donald Trump with other countries has already cost American and other commercial companies in the world more than $34 billion. The Reuters news agency wrote about this on May 30, adding that businessmen are inclined to even more gloomy forecasts for their future work.

"President Donald Trump's trade war has cost companies more than $34 billion in lost sales and increased costs. This amount is expected to grow as continued uncertainty over tariffs paralyzes the decision—making process at the world's largest companies," the publication says.

The agency analyzed corporate reports of companies, according to which almost all losses — $33 billion — are based on estimates of large companies traded on stock exchanges. The quotes of 32 of them in the United States are included in the calculation of the S&P 500 broad market index, three are the pan—European STOXX 600, and 21 companies are included in the Japanese Nikkei 225 index.

Currently, at least 42 companies are making modest forecasts for future earnings, and 16 intend to review them, including Apple, Ford, Porsche and Sony. According to economists, the companies' losses will be several times higher than the amounts they have already disclosed in their reports.

"The vast majority of companies say that due to the volatile nature of Trump's trade policy, it is impossible to accurately assess losses," adds Reuters.

War to war: The White House is suing for the right to impose trade duties

The decision to block the "Trump tariffs" lasted only one day, but the fight has only just begun.

The day before, the Reuters news agency reported that the US Federal Court on May 28 decided to block the introduction of trade duties by Trump, justifying this by overstepping its authority. The court found that Trump exceeded the powers vested in the president in the event of international emergencies (International Emergency Economic Powers Act, IEEPA).

Prior to that, on May 27, Trump said that the European Union (EU), amid the escalation of the trade war, turned to the United States to select meeting dates to resolve disputes. He also expressed hope for the EU's decision to "open up" European countries to trade with the United States.