US President Donald Trump has declared a national emergency due to the country’s substantial trade deficits and has announced the imposition of new reciprocal trade tariffs, the White House said in a statement.

Indian steel companies are evaluating the impact of US reciprocal tariffs, which could lead to increased steel imports from China, South Korea, and Japan.

US steel and aluminium tariffs have triggered 200 job losses in Canada, with 100,000 more at risk as trade uncertainty intensifies.

President Trump unveiled his Liberation Day tariff plan, which will likely rock Vietnam and China, while U.S. workers and nations such as Japan, India will do well under the plan.

The effects of President Donald Trump’s tariffs are starting to be felt across the globe, with his blanket 10% tax on imports now in effect. Much steeper tariffs are set to go into place by midweek, after a weekend that saw mass protests across the nation.

This week, I sought the argument for why US tariff rates won’t stay high for long. Here’s what I found. First, the economic pain. In the near term, most forecasters expect Trump’s import duties to raise prices and slow economic activity.