President Donald Trump's war on global trade continues. The leader of America has issued new tariff rates for many of the United States' trading partners, hitting several with steep and increased rates now that the trade deal deadline has concluded.
As per Reuters, it's revealed that Canada will see an increased rate of 35% tariffs, while Brazil is dealing with a 50% rate, India with 25%, Taiwan at 20%, and Switzerland at 39%, among many others.
92 countries are said to be facing a 10% increase in tariffs, all while the European Union remains capped at 15% following the recent deal being struck, the UK remaining at 10%, and China's still being up in the air, as the two countries continue to strike a deal ahead of an August 12 deadline. The 10% increase will take effect in seven days time.