President Donald Trump has as soon as once more introduced new tariffs for almost each nation on the earth, additional upending the panorama of international commerce.
Starting August 7, the United States will impose a ten% “universal” levy on imported items from countries with which it has a commerce surplus and a 15% tariff on items from about 40 nations with which it has a commerce deficit. Some countries, like Brazil, face levies ranging as much as 50%.
Trump’s tariff regime is unprecedented for contemporary occasions. The new duties imposed on America’s buying and selling companions are the best since 1933, a time when steep tariffs contributed to the worsening of the Great Depression.
Here’s how US buying and selling companions will likely be affected: