Trump's new tariffs take effect for dozens of countries in latest trade war escalation
The latest wave of Donald Trump’s global tariffs has come into force for dozens of countries, raising the cost of their exports to the US.
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Taking to TruthSocial early on Thursday, Mr Trump declared: “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”
“The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail,” the president added.
The “reciprocal” tariffs will range from 10% on the UK to a whopping 41% on goods from Syria.
Brazil, meanwhile, will face 50% tariffs on goods after Donald Trump hit the country with extra levies on Wednesday for the prosecution of the country’s former president Jair Bolsonaro.
The EU was facing extremely high tariffs, but the bloc agreed a trade deal with the president during his visit to Scotland last month.
India could face tariffs of up to 50% under new plans to punish countries that purchase Russian oil, as Mr Trump desperately tries to force the Kremlin into agreeing a peace deal with Ukraine.
Hours before Trump’s tariffs took effect, the president announced new 100% tariffs on computer chips and semiconductors imported into the US.
The move will likely see the price of technology made outside the US skyrocket.
Announcing the plans, Mr Trump praised tech giant Apple, saying: "This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America are also made in America.
"Today's announcement is one of the largest commitments in what has become among the greatest investment booms in our nation's history."
His announcement came as Apple chief executive Tim Cook joined Mr Trump at the White House on Wednesday to announce a commitment by the tech company to increase its investment in US manufacturing by an additional 100 billion dollars (£74.9 billion) over the next four years.
As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the US as part of an initiative called the American Manufacturing Programme, but it is not a full commitment to build its popular iPhone device domestically.
