Trump Unveils New Tariff Hikes on Key Partners

US President Donald Trump has announced a series of new tariffs affecting major partners, including a 15% tariff on South Korean exports, 25% on Indian goods, and 50% on Brazilian products, with some exemptions and delayed implementation for Brazil until August 6. Malaysia faces potential new tariffs, with Prime Minister Anwar Ibrahim stating that a decision will be made by Friday and warning of additional punitive rates for goods routed through Malaysia. Australia may also see US tariffs double to 15-20%, as Trump seeks to raise the baseline on nearly all partners despite ongoing negotiations. Trump cites foreign trade barriers and non-monetary obstacles as justification, while critics argue that linking tariffs to issues like arms purchases from Russia is an overreach. Targeted countries are vowing to defend their interests, prompting global concern and last-minute talks. The measures mark a significant escalation in trade tensions as the US pushes for more advantageous terms.