Tariff Tsunami: Trump's Trade Tactics Shake Global Markets
U.S. President Donald Trump's increased import tariffs, reaching 10%-50%, have impacted major trade partners, including Switzerland, Brazil, and India. While attempting to shrink trade deficits, the tariffs have led to anxious negotiations and potential restructuring of global supply chains, with some countries fighting back against the economic strain.
The United States has triggered a significant economic shift by implementing a series of import tariffs under President Donald Trump's administration, affecting dozens of countries worldwide. The tariffs, ranging from 10% to 50%, began on Thursday, raising the average import duty in the U.S. to its highest in a century.
Countries like Switzerland, Brazil, and India, among others, are scrambling to negotiate better terms and mitigate the financial impact. Meanwhile, President Trump claims these tariffs, dubbed 'Liberation Day' tariffs, will generate substantial federal revenue by targeting nations perceived to have economically exploited the U.S. for years.
Responses from trade partners vary, with Brazil's President expressing reluctance to submit to Trump's demands and India's Prime Minister standing firm on protecting domestic interests. As countries search for a balance, these tariffs are expected to reshape international trade dynamics, raising U.S. consumer prices and straining corporate profit margins.
(With inputs from agencies.)
Google News