Donald Trump’s “explosive” tariffs on 60 countries which he deems the “worst offenders” have come into effect.
The latest phase of the US president’s sweeping global tariffs includes 104% duties on goods from China, the world’s biggest exporter.
The additional tariffs on China kicked in after Beijing refused to meet Trump’s deadline to withdraw its own retaliatory levies on the US.
Dharshini David analysis: By imposing the largest tariffs on American importers and households in a century, Trump has in effect built a trade wall.
Trump has said that the tariffs – which are taxes on goods bought from other countries – will boost the US economy, but experts warn they could push up prices for consumers.
Major Asian markets extended their losses after the tariffs kicked in.
[BBC News]
