Trump's Higher Tariffs Hit Major US Trading Partners

• U.S. President Donald Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, raising the average U.S. import duty to its highest in a century and leaving major trade partners such as Switzerland, Brazil, and India hurriedly searching for a better deal.

• The U.S. Customs and Border Protection agency began collecting the higher tariffs of 10% to 50% after weeks of suspense over Trump's final tariff rates and frantic negotiations with countries seeking to lower them.
• The leaders of Brazil and India vowed not to be cowed by Trump's hardline bargaining position, even while their negotiators sought a reprieve from the highest tariff levels.
• The new rates will test Trump's strategy for shrinking U.S. trade deficits without causing massive disruptions to global supply chains or provoking higher inflation and stiff retaliation from trading partners.

(Source: Reuters)