Trump's New Tariff Blitz: Impacts on Global Trade
President Donald Trump announced new import tariffs including 100% on branded drugs and 25% on heavy-duty trucks. This move aims to protect U.S. manufacturing and national security but raises concerns for global businesses already facing supply chain challenges. Mixed responses from investors and international trade partners followed.
U.S. President Donald Trump on Thursday announced a series of new import tariffs, majorly impacting global trade. The most significant include a 100% duty on branded drugs and a 25% levy on heavy-duty trucks, which are set to be enforced next week.
The new tariffs align with the administration's stated goals of safeguarding American manufacturing and bolstering national security. However, this move has sparked concerns among global enterprises already navigating disrupted supply chains and escalating costs.
Market reactions have been mixed, with Asian stocks, particularly pharmaceuticals, taking a hit, while European shares mostly recuperated. U.S. investors seem to maintain a steady outlook despite the Federal Reserve's acknowledgment of rising consumer prices due to the trade war.
(With inputs from agencies.)
ALSO READ
US tariff on branded drugs: Not much impact on Indian exports, says Pharmexcil chief Joshi
US Tariffs on Branded Drugs: No Immediate Impact on Indian Generics
Piyush Goyal engages with global business leaders in US to boost trade, investment in India
UK Greenlights Gatwick Expansion Amid Global Business Shifts
Google News