President Trump’s sweeping new tariffs on imports from dozens of countries took effect Thursday, imposing taxes of up to 200% on pharmaceuticals and 100% on computer chips. Most U.S. imports of copper, steel, and aluminum now face 50% tariffs, creating uncertainty for global exporters. Key trading partners like China and India face unresolved tariff rates, with India specifically penalized for buying Russian oil. Major corporations like Toyota and Honda report billions in losses from the tariffs, which are reshaping global trade dynamics. Despite the economic disruption, global financial markets showed relative stability in initial reactions.
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