From Reuters.
View of Port Elizabeth in New Jersey as more US tariffs come into effect.
US President Donald Trump’s ‘reciprocal’ tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war and spurring more widespread selling across financial markets.
Trump’s punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and wiped trillions of dollars off the market value of major firms.
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