Trump Implements Broad Tariff Hikes Amid Global Trade Shifts

In a significant move to reshape U.S. trade policy, President Donald Trump has announced new tariffs on imports from over 60 countries, including the European Union, Nigeria, Canada, India, and Taiwan. The new levies, ranging between 10% and 41%, are aimed at reducing America’s trade deficits and boosting domestic manufacturing.

Canada and Switzerland are among the hardest hit, facing tariffs of 35% and 39% respectively. India and Taiwan will also see increased duties on key export categories. While the administration claims the measures are necessary to protect U.S. industry, global markets reacted with caution, registering a sharp dip due to rising uncertainty.

Amid the tariff rollout, the U.S. and EU managed to negotiate a compromise. Tariffs on key goods like automobiles and pharmaceuticals were reduced from the initially proposed 30% to 15%.

Analysts warn the move could trigger retaliation from affected countries, potentially disrupting global supply chains and inflating consumer prices. However, U.S. officials maintain that the new tariff regime is a strategic step towards fairer and more balanced trade relationships.

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