Escalating Tariffs: The Global Trade War Under Trump's Administration

In an aggressive move that has shaken international markets, U.S. President Donald Trump has set off a global trade war by imposing a series of tariffs targeting specific products and nations. The sweeping tariffs, initiated at a base rate of 10% on all imports to the United States, have already been enacted on steel and aluminum at 50% and automobiles at 25%.

The threat of additional tariffs looms, with potential increases on goods like copper, pharmaceuticals, semiconductors, and even movies. The list of countries facing heightened trade barriers is also expanding, comprising allies like Canada and the United Kingdom to major trading partners such as China and Vietnam.

As August 1st approaches, a host of other nations, including Algeria, Brazil, and the European Union, await the possible imposition of tariffs. Trump's strategy faces global scrutiny amid fears of escalating trade tensions that could have lasting economic repercussions worldwide.

(With inputs from agencies.)