Trump's sweeping new tariffs take effect against dozens of countries

The president also hit India with a 50% tariff and threatened a 100% levy on foreign-made computer chips.

Watch LiveBritish Broadcasting CorporationHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcast CategoriesRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersWatch LiveTrump's sweeping new tariffs take effect against dozens of countries3 hours agoShareSaveOsmond ChiaBusiness reporter, BBC NewsReporting fromSingaporeShareSaveGetty ImagesUS President Donald Trump's sweeping new tariffs on more than 90 countries around the world have come into effect.

Moments before his deadline passed for countries to negotiate US trade deals, Trump posted on his Truth Social platform that billions of dollars were now flowing into his country as a result of his import taxes.

Trump is using tariffs to encourage jobs and manufacturing industries to return to America, among other political goals.

Separately on Wednesday, he threatened to raise the tariff on imports from India to 50%, unless that country stopped buying Russian oil. He also threatened a 100% tariff on foreign-made computer chips, to push tech firms to invest more in the US.

Trump's trade policies have been broadly aimed at reshaping the global trading system, which he sees as treating the US unfairly. One of his key pledges as he returned to the White House in January was to cut the trade deficit - the shortfall between what America buys and what it sells.