Is the world entering a new era of tariffs? Overnight, President Trump’s historic wave of new tariffs officially took effect, hitting dozens of countries with rates ranging from 10% to 41%—the highest US tariff regime since the 1930s. For countries like Switzerland and Brazil, the effective levy climbs to an eye-watering 39%-50% once all layers are added. The list of targeted products is sprawling: everything from luxury watches and cheese to auto parts and electronics. Even sectors previously untouched by tariffs, like semiconductors, are now on the chopping block—with a looming 100% tariff on chips unless companies manufacture in the US.
The ripple: Industry groups and governments are scrambling to blunt the impact or secure exemptions. The European Union cut a last-minute deal for a 15% rate, while others—like India—face surging penalties for purchases from Russia. So what? These tariffs signal a fundamental disruption in global trade, threatening supply chains, raising costs, and reordering international economic alliances—with the US consumer wallet right in the crosshairs. Tariff headlines aren’t just noise; they’re policy earthquakes.
