Starting today, President Donald Trump’s new tariffs are officially in place, affecting imports from several countries. The tariffs aim to reduce the U.S. trade deficit and boost domestic manufacturing. Key targets include China, India, the European Union, South Korea, Japan, and Taiwan, with tariffs ranging from 20% to 34% depending on the country.
The move is expected to impact consumer prices and may lead to retaliation from affected nations. The market has shown signs of volatility, as experts warn about potential economic consequences. China has already launched a digital campaign mocking the U.S. in response to the tariffs.
This new trade strategy is set to reshape global trade dynamics, with many awaiting its long-term impact on the economy.