U.S. President Donald Trump marked 200 days back in office today by again hitting nations around the world with increased tariffs, days after slapping Canada with a 35 per cent duty.
Trump escalated his trade war last week by hitting Canada with a baseline 35 per cent tariff that applies only to goods not covered by the Canada-United States-Mexico Agreement on trade, better known as CUSMA.
Just after midnight, U.S. tariffs took effect on goods from more than 60 other nations and the European Union, ranging from a low of 10 per cent to a staggering 50 per cent on Brazil.
Trump celebrated the boosted duties with a social media post claiming "tariffs are flowing into the USA at levels not thought even possible!"
American tariffs are now at a level not seen in the U.S. in almost a century.
Nations are also being hit with Trump's separate tariffs on steel, aluminum, copper and automobiles.
Picture Courtesy: AP Photo/Mark Schiefelbein, File
