London
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Shortly after starting his second time period in January, US President Donald Trump launched a chaotic commerce battle, raising tariffs on scores of international locations, then altering some and agreeing to a quantity of tentative commerce offers.
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The common US import tax is now at its highest level since the 1930s, and there are signs the steeper tariffs are feeding by way of to higher prices for Americans.
But they’re additionally inflicting ache past US borders. Here are examples from around the globe.
Switzerland, Japan and Mexico take successful
The Swiss economic system shrank in the third quarter on the sharpest fee for the reason that depths of the Covid-19 pandemic in 2020. The authorities attributed the contraction largely to a plunge in output from the chemical and pharmaceutical business, noting current volatility in international commerce linked to new US tariffs.
Over in Asia, Japan’s economic system additionally contracted in the third quarter. Drops in exports and personal residential funding had been the most important drivers.
And nearer to the United States, Mexico’s economic system additionally shrank in the third quarter. Economists blamed the poor efficiency partly on Trump’s erratic commerce coverage, which dampened enterprise confidence and funding.
Canada’s producers lower 1000’s of jobs
The Canadian manufacturing sector has shed 36,500 jobs for the reason that begin of the yr and now has the smallest workforce since September 2021, when the sector was nonetheless reeling from the pandemic, in line with the official Survey of Employment, Payrolls and Hours.
“Manufacturing has been among the hardest hit by US tariff actions,” Canadian Manufacturers & Exporters, an business affiliation, said in September, describing the sector as a key driver of exports.
Brazil’s espresso exports to its most important market fall sharply
Between August and mid-November, Brazil’s espresso exports to the United States had been topic to a hefty 50% tariff. That tariff made it “practically impossible to export to that market,” Márcio Ferreira, president of exporter group Cecafé or the Brazilian Coffee Exporters Council, said in October.
US espresso imports from the world’s prime producer greater than halved in the August-November interval in contrast with a yr prior, primarily based on the council’s newest data. The drop contributed to a 32.2% fall in Brazilian espresso gross sales to the United States for the reason that begin of 2025, year-over-year.
Despite the decline, the United States was the most important importer of Brazilian espresso in the primary 11 months of 2025. Coffee manufacturing and associated actions account for as much as 1.8% of Brazil’s GDP, whereas espresso farming employs about 3% of the nation’s workforce, together with seasonal and oblique jobs, Brazil’s agriculture ministry informed NCS.