Trump's Tariff Tactics: Shaking Global Trade

The United States, under President Donald Trump, has imposed the most significant import tariffs in a century, impacting a range of global trade partners, including Switzerland, Brazil, and India. These higher tariffs, ranging from 10% to 50%, took effect Thursday morning, aiming to shrink U.S. trade deficits without causing significant global economic disruptions.

Brazil and India are among the countries attempting to negotiate lower tariffs while refusing to yield to Trump's tough bargaining position. The new tariffs are part of a broader strategy that includes sectoral taxes, targeting goods such as semiconductors and pharmaceuticals, with expected federal revenues from these tariffs reaching $50 billion monthly.

Despite the pressures from these tariffs, some countries are rallying to form a cooperative front. Brazil's President Lula is engaging with leaders of India and China to organize a joint response under the BRICS banner. Meanwhile, discussions continue as countries seek to mitigate the economic effects and adjust to the new trade landscape.

(With inputs from agencies.)