Trump hits more countries with steep tariffs, markets tumble

REUTERS :

Item 1 of 2 Containers are loaded onto a cargo ship while docked at a port under the Port Authority of Thailand, following the announcement that U.S. President Donald Trump would impose tariffs of 36Per cent on goods from Thailand starting on August 1, in Bangkok, Thailand, July 8, 2025.

Containers are loaded onto a cargo ship while docked at a port under the Port Authority of Thailand, following the announcement that U.S. President Donald Trump would impose tariffs of 36Per cent on goods from Thailand starting on August 1, in Bangkok, Thailand, July 8, 2025.

*Mexico avoids 30Per cent tariff on non-automotive, non-metals goods
*A 35Per cent tariff on many Canadian goods
*Brazil hit with 50Per cent tariff, some sectors excluded
*China trade deal not finalized, August 12 deadline looms
*Trump administration teases additional trade deals
U.S. President Donald Trump’s latest wave of tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, sent global markets tumbling on Friday as countries pushed for talks to clinch better deals.

Trump’s new tariff rates include a 35Per cent duty on many goods from Canada, 50Per cent for Brazil, 25Per cent for India, 20Per cent for Taiwan and 39Per cent for Switzerland.