President Donald Trump’s sweeping tariffs as come into force, targeting imports from 60 countries that he labels the “worst offenders”. However, critics have branded this decision an economic high-stakes gamble.
China is worst hit with 104 percent tariffs slammed by Trump on their goods—an aggressive escalation in the ongoing trade standoff between Washington and Beijing. The duties took effect after China declined to meet Trump’s deadline to lift its own retaliatory tariffs against the US.
Trump insists the tariffs will strengthen the American economy by curbing reliance on foreign goods and encouraging domestic production. “We are bringing jobs back and protecting American industries,” he said.
But economists and trade experts warn the move could have the opposite effect, inflating prices for US consumers and triggering retaliation that could stifle global growth.
Markets have already begun reacting to the uncertainty. London’s FTSE 100 opened down 2.5%, while Asian markets slid further into negative territory.
