WASHINGTON, D.C.: Former US President Donald Trump has announced sweeping tariffs on global trade partners, marking his most aggressive move yet against what he calls an unfair economic system.
Trump declared that all exporters to the US will now face a minimum 10% tariff, while around 60 nations with significant trade imbalances will be hit with additional duties. This move aligns with his long-standing stance that the global trade system disadvantages America.
The policy shift is expected to send shockwaves across global markets, impacting major economies reliant on exports to the US. While Trump argues that these tariffs will protect American jobs and industries, critics warn they could lead to higher consumer prices, retaliatory tariffs, and strained international relations.
Throughout his presidency, Trump championed “America First” policies, withdrawing from trade deals and renegotiating agreements like NAFTA (replaced by the USMCA). His latest tariff measures reinforce his belief that the US must reduce trade deficits and promote domestic manufacturing.
The full list of affected countries and specific tariff rates have yet to be disclosed. However, major exporters like China, Mexico, Germany, and Japan are expected to be among the most impacted. Global businesses and financial markets are bracing for uncertainty, as reactions from world leaders and trade organisations unfold.
This announcement signals a potential escalation in global trade tensions, with countries likely to respond with countermeasures. How the international community reacts will determine the long-term impact on supply chains, economic growth, and diplomatic relations.
