Trump's Tariff Tsunami: Major Trade Shake-Up Looms

In a dramatic move that threatens to unravel global trade relations, U.S. President Donald Trump has introduced sweeping new tariffs, including staggering 100% duties on patented drugs and 25% levies on heavy-duty trucks, to take effect next week. The announcement has cast uncertainty over international markets and ignited fears of a protracted trade war.

The measures, which Trump argues are necessary to bolster American industry and safeguard national security, revive tariffs that target a gamut of imported goods previously caught in the crossfire under the administration's aggressive trade stance. Despite some deals with nations like Japan and the EU, which provide limited tariff caps, questions remain about the extensive impact on both U.S. businesses and foreign exporters.

Compounding concerns are industry warnings regarding heightened costs and supply chain disruptions, particularly from sectors like pharmaceuticals and transportation. Simultaneously, global stock markets have reacted with caution as investors assess the potential fallout. With the Supreme Court set to rule on the broader legality of such tariffs, the stakes continue to escalate.

(With inputs from agencies.)