đź’¨ Abstract

President Trump signed an executive order imposing tariffs on 68 countries and the European Union, effective August 7th, with rates ranging from 10% to 40%. The deadline was extended from August 1st to harmonize tariff rates. Some nations negotiated lower rates, while others face increased costs. The legality of these tariffs is under legal challenge. Many countries and officials have expressed concern about economic uncertainty, inflation, and the potential impact on global trade.

Courtesy: WTOP Staff