The latest round of new tariffs unleashed by Donald Trump will hit almost every industry across the globe, setting an unprecedented challenge for businesses already grappling with weak demand and inflationary pressures.
Industry executives warn the biggest victim will be US consumers who will be paying more to buy everything from Adidas trainers to Modelo, the country’s top-selling beer.
The US unveiled a baseline levy of 10 per cent with additional tariffs of up to 50 per cent on multiple trading partners, including the EU, Japan, Vietnam and Cambodia.
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