Global Trade Tremors: Trump's Tariff Shake-Up

President Donald Trump's imposition of sweeping tariffs on U.S. imports has triggered threats of retaliation, alarming global markets and governments. The new tariffs aim to restructure trade alliances while potentially increasing costs for consumers and sparking inflation. Economists warn of a possible U.S. recession amid global economic uncertainty.

President Donald Trump's sweeping tariffs on U.S. imports have unleashed a storm of global repercussions, as nations scramble to retaliate and assess economic impacts. The hefty new tariffs, starting at a 10% baseline, target U.S. trading partners, including allies, which could alter long-standing global trade alliances.

Reactions were swift and strong from global leaders. Canada's Prime Minister Mark Carney criticized the U.S. for abandoning its role in international economic cooperation, while the European Union and China vowed countermeasures against England's trade barriers. The tariffs are feared to raise consumer costs and possibly tip the U.S. economy into recession.

The tariffs mark another significant geopolitical shift under Trump's administration, which has previously pulled the U.S. from multinational agreements and organizations. This change comes with the potential to upend supply chains and affect millions globally, underscoring the charged atmosphere of international trade relations.

(With inputs from agencies.)