Trump Tariffs Take Effect Across 60+ Countries Including EU, Japan, South Korea

President Donald Trump has implemented a broad new round of tariffs on imports from over 60 countries, with rates ranging from 10% to as high as 50%, including a 15% tariff on goods from the European Union, Japan, South Korea, and Türkiye. The tariffs aim to reduce the U.S. trade deficit and encourage foreign investment, with Trump optimistic about unprecedented economic growth and the inflow of billions in tariff revenues. Notably, Trump announced plans for a 100% tariff on semiconductors, exempting companies that manufacture or commit to manufacturing in the U.S., aligning with his goal of revitalizing American manufacturing. Despite the administration's confidence, economic indicators have shown negative impacts, including stalled hiring, inflationary pressures, and corporate profit declines exemplified by Toyota's 37% profit drop partly attributed to tariffs. The tariffs have triggered mixed responses globally, with some countries negotiating exemptions or favorable terms for key industries. Overall, Trump's tariff strategy continues to reshape U.S. trade policy amid ongoing uncertainty about its long-term economic effects.