In a sweeping move, U.S. customs has begun collecting President Donald Trump’s controversial new 10% baseline tariff on imports from dozens of countries. This marks a massive shift in global trade, with even steeper tariffs, up to 54%, kicking in next week for major economies like China and the EU. Markets have reacted sharply: the S&P 500 lost $5 trillion in just two days, oil prices dipped, and China has hit back with tariffs of its own. Beijing is calling for equal-footed talks and warning that the tariffs could worsen U.S. inflation. While Trump is excluding certain items like crude oil and semiconductors, the move has rattled economies worldwide, sparking fears of a prolonged global trade war. NDTV’s Gaurie Dwivedi brings you more.
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