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“These stories are not just for Middle America,” said chief distribution officer Jared Geesey to a packed ballroom.

In Las Vegas, Cruise bowed his head in the cavernous theatre, which was packed with movie theatre owners and others who work in the industry.

I’m just so grateful that we never packed it in and said, “We’re out.”

"Even the management office that was there when I went to look around had packed up and left," she said.

The president, brandishing a giant rectangular piece of card packed with the new tariff increases, unleashing waves of anxiety across factory floors, boardrooms and government ministries the world over.