Trump's New Tariff Tsunami: A Blow to Global Trade Ensues

The calm in global trade has been disturbed by a storm of tariffs unveiled by President Donald Trump. On Thursday, he announced broad tariffs, including 100% duties on patented drugs and 25% levies on heavy-duty trucks. These measures come as attempts to safeguard U.S. manufacturing and security, but at the potential cost of global trade stability.

Emerging from a period of relative quiet on the trade front, Trump's announcement via Truth Social is a fresh challenge for businesses struggling with disrupted supply chains and rising costs. New tariffs targeting imported kitchen cabinets, bathroom vanities, and upholstered furniture add pressure on consumer-related sectors.

The new tariffs, enacted under the Section 232 national security trade statute, have revitalized debates over trade deal protections. While pharmaceutical stocks held firm, the broader stock markets remained flat, reflective of mixed economic signals and potential repercussions from this tariff salvo.

(With inputs from agencies.)