Trump's Historic Tariffs Spark Economic Uncertainty

President Trump has introduced a sweeping tariff policy, imposing a 10% global tariff on all imports, with significantly higher rates of up to 49% on countries like Vietnam and China, marking the highest tariffs in U.S. history. While some sectors such as autos and pharmaceuticals are exempt from the baseline tariffs, others face increased costs, leading to potential price hikes and economic uncertainty. Canada and Mexico are spared from these tariffs under the United States-Mexico-Canada trade agreement but remain subject to previous levies. The tariffs are expected to disrupt global trade, with economists warning of increased prices and slowed economic growth. Businesses are scrambling to adjust, with some considering price increases or investment cutbacks, as they face the dual challenge of tariffs and potential inflation. Meanwhile, there is political tension around Trump's tariff strategies, which have also been linked to trade negotiations involving TikTok.