The latest wave of tariffs imposed by former US President Donald Trump has officially taken effect, targeting imports from dozens of countries and reigniting concerns over global trade tensions. The move, which critics argue could destabilise international markets, has drawn sharp reactions from trading partners and economic analysts alike.
What’s in the New Tariff Package?
The updated tariffs apply to a wide range of goods, including steel, aluminium, and agricultural products, with rates increasing by as much as 25% in some cases. The policy, first introduced during Trump’s presidency but delayed under the Biden administration, has now been fully implemented.
Global Reactions
Several nations have already signalled their intention to retaliate, raising fears of a renewed trade war. The European Union, China, and Canada are among those considering countermeasures, which could further strain diplomatic relations.
Economic Impact
Analysts warn that the tariffs could lead to higher consumer prices and disrupt supply chains, particularly in industries reliant on imported materials. Small and medium-sized enterprises (SMEs) are expected to bear the brunt of the financial strain.
Why Now?
The timing of the tariffs has raised eyebrows, with some speculating that political motivations may be at play ahead of the upcoming US election. Supporters argue that the measures protect American jobs, while opponents claim they will do more harm than good.
As tensions escalate, businesses and governments worldwide are bracing for the ripple effects of this contentious trade policy.
