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The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board. Long-standing U.S. allies across most of the world's largest economies reacted with a mixture of anger and despair as they vowed retaliatory tariffs and hinted at some of the measures they plan to use to soften the blow to their own economies. Countries seeking to sell goods to the United States will now face taxes as high as 54% based on how the White House is calculating duties on U.S. exports, as well as "nonmonetary" trade barriers in response to countries' doing things such as manipulating their currencies or serving as "pollution havens." Global markets reacted sharply and swiftly, with investors pulling money out of U.S. shares and the stocks of other companies that rely on global supply chains. The steep tariffs are raising consumer fears that higher prices are on the way, with the industrial, retail, consumer and automotive sectors all feeling the pain. #trumptariffs #trumptariffwar #globaltradewar #news18 Source: Reuters and AP News18 Mobile App - https://onelink.to/desc-youtube