Former US President Donald Trump has once again shaken global markets with a bold executive order imposing fresh tariffs on imports from several key trading partners. The move, which critics warn could spark retaliatory measures, marks a significant escalation in trade tensions under his administration.
Which Countries Are Affected?
The new tariffs target a wide range of goods from multiple nations, with rates varying dramatically depending on the product and country of origin. Among the hardest hit are:
- China: Facing up to 50% tariffs on certain electronics and manufacturing components
- European Union: New levies on automotive parts and agricultural products
- Mexico: Increased duties on steel and aluminium imports
- Canada: Higher taxes on softwood lumber and dairy products
Economic Impact and Reactions
Financial analysts predict the measures could:
- Increase consumer prices in the US by 2-3% within 12 months
- Trigger immediate retaliatory tariffs from affected nations
- Potentially disrupt global supply chains already strained by pandemic recovery
"This is economic warfare disguised as trade policy," warned one EU trade representative speaking on condition of anonymity.
Political Fallout
The decision has drawn sharp criticism from Democrats and some moderate Republicans, who argue it will hurt American consumers and manufacturers reliant on imported materials. However, Trump's base has largely welcomed the move as fulfilling campaign promises to protect domestic industries.
White House officials maintain the tariffs are necessary to address longstanding trade imbalances and protect national security interests.
