Trump Imposes Sweeping Global Tariffs, Markets Rattle

President Donald Trump has imposed sweeping new U.S. tariffs, with rates reaching as high as 50% on some countries, disrupting the global trade system and affecting nearly all U.S. trading partners, including Canada, Switzerland, the Philippines, and Brazil. A few countries managed to negotiate deals to avoid even harsher penalties, but most face steep new export taxes. The tariffs, enacted following Trump's declaration of trade deficits as a national emergency, replace multilateral agreements with a unilateral, threat-based approach. Economic indicators show rising inflation and slowed job growth, suggesting negative impacts for both the U.S. and global economies. Diplomatic tensions have increased, and many experts doubt the long-term effectiveness of the strategy. The new tariff system is also facing legal challenges, leaving future trade relationships uncertain.