Trump slaps 25% tariffs on imports from select countries
Donald Trump just announced the highest US tariffs in a century—ranging from 10% to 50%—on countries that don't have updated trade deals with the US.
He says it's all about rebalancing trade and bringing more manufacturing jobs back home.
Countries affected by the new tariffs
India's famous Assam and Darjeeling teas could get pricier with a new 25% tariff.
Thailand managed to cut its expected tariff nearly in half, which is a win for its electronics industry.
Laos faces a steep 40% hike, putting local jobs at risk, while Canada's steel and aluminum will now cost more thanks to a 35% tariff jump.
Mexico scored a temporary 90-day exemption, but things are still uncertain for them long-term.
Switzerland got hit with Europe's highest rate at 39%, showing just how widespread these changes are.