Trump imposes global tariffs, triggering backlash

President Donald Trump has announced sweeping new tariffs, branded as 'reciprocal tariffs,' ranging from 10% to 49% on a variety of imports, claiming they address long-standing trade imbalances and protect American jobs. The tariffs include significant increases on goods from China (up to 54%), the European Union, and other trading partners, which has prompted immediate backlash from affected countries, including China, Germany, and Japan, who argue that the measures violate international trade rules. The economic impact has already been felt, with stock futures plummeting and major companies like Apple and Nike experiencing sharp declines in their share prices. Trump asserts that these tariffs are a national security necessity, while critics, including former treasury secretary Lawrence Summers, estimate that the tariff policy could cost American families significantly. In response, trading partners have expressed their intent to implement countermeasures and negotiate to mitigate the impact of these tariffs. The situation has heightened concerns about escalating trade tensions and the potential for a broader trade war.