The Trump administration's 10% additional tariffs on most products the United States imports from the rest of the world went into effect at 12:01 a.m. Washington time on Saturday, and 6:01 a.m. ET. This is a shock to global trade that is expected to intensify in the coming days.
This universal minimum threshold of 10%, from which certain products are excluded, is in addition to existing obligations.
The United States has slapped tariffs on two French overseas territories. In a list of countries and territories released Wednesday, the White House said it would impose tariffs of 37% on imports from the Indian Ocean territory of La Reunion and 50% on those from the small North Atlantic archipelago of Saint-Pierre-et-Miquelon.
La Reunion - part of the European Union's common customs area but considered a separate territory for tax purposes - will face a 10% tariff. The same rate was imposed on Saint-Pierre-et-Miquelon.
The downward revision brings the two territories in line with other French overseas possessions: Guadeloupe, Martinique, French Guiana and Mayotte.
Meanwhile, US stock markets have completed their worst week since 2020, as Donald Trump's sweeping tariffs continue to cause turmoil in global markets.
All three major indexes on Wall Street fell by more than 5%. (A2 Televizion)
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