Trump's Tariff Turbulence: A Global Economic Shake-Up

Amidst escalating global economic tensions, U.S. President Donald Trump's sweeping tariff measures have rattled financial markets worldwide. Key adjustments have included imposing tariffs on imports from China, Mexico, and Canada, sending shockwaves through international trade relations.

Trump's decisions encompass imposing a 25% tariff on various imports from the aforementioned countries, while doubling fentanyl-related tariffs on Chinese imports. Subsequent measures saw the imposition of global tariffs with a baseline of 10% and specific increases in duties for goods from major trading partners, heightening uncertainty.

The administration also launched national security probes into imports of pharmaceuticals and semiconductors, aiming to extend tariffs to these sectors. In parallel, a temporary truce was reached with China to reduce reciprocal tariffs, albeit amid continued economic volatility.

(With inputs from agencies.)