Escalating Trade War: Trump's Bold Tariff Strategy Rattles Global Markets

In an aggressive escalation of his trade strategy, U.S. President Donald Trump has announced a 50% tariff on imported copper, alongside anticipated levies on semiconductors and pharmaceuticals. The decision, declared during a White House meeting, aims to broaden the U.S. trade war which has already unsettled global financial markets.

Trump's hardline approach comes amid ongoing negotiations with trading partners like the European Union and China, where talks are reportedly positive. However, Trump's relentless tariff threats, including a 10% tariff plan for BRICS members, underscore the administration's determination to recalibrate trade dynamics in America's favor.

Tariff rates, now climbing to levels not seen since the 1930s, have prompted strong reactions from affected nations. While some express willingness to negotiate, others, like the European Union, prepare for possible retaliation. The implications on sectors reliant on affected imports remain to be fully assessed by economists and international trade experts.

(With inputs from agencies.)