Trump 🇺🇸triggered a global trade war
Trump's new tariffs on imports from more than 90 countries have come into effect.
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The tariffs mean companies that bring foreign goods into the US will have to pay the taxes to the government, and experts say these companies may pass costs on to consumers.
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Earlier this month, Trump imposed a 25% penalty on India in addition to 25% tariffs for buying oil and weapons from Russia (effective from 27 August).
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Brazil faces one of the highest US tariff rates in the world, with a 50% rate applied to most goods.
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Negotiations are still under way, with both Washington and Beijing⛩️agreeing to delay any new tariffs until 12 August.
-mexico🇲🇽-
Mexico also got a reprieve as Trump said it would be charged at current rates for another 90 days, avoiding a threatened increase to 35%.
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Canada already faces a 35% tariff, in effect since last Friday, although most goods are exempt under the US-Mexico-Canada🍁 trade agreement.
What's more, for many countries, this has all served as a wake up call - a need to remain alive to fresh alliances 🫱🏼🫲🏽.
And so, while the short term result might be - as Trump sees it - a victory ✌🏻 🏆, the impact on his overarching goals is far less certain. As are the long-term consequences, which could well pan out rather differently for Trump - or the America he leaves behind after his current term.
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