Many smaller countries’ exports have faced 10 percent tariffs since the president first announced, then suspended, an initial wave of policies in April. Others have staved off eye-watering rates after brokering deals with the United States that set their tariffs generally between 15 and 20 percent.

New tariff rates on U.S. imports, initiated under President Donald Trump 's administration, came into effect on Thursday, marking a significant development in his reshaping of global trade. These measures include potential tariffs of up to 200% on pharmaceutical imports and a 100% import tax on computer chips.

The twists and turns in U.S. President Donald Trump's tariff policies have not only roiled global financial markets but also taken investors on a roller-coaster ride. Adding to the uncertainty are tariff-related legal challenges and Trump's assertion that he will hammer out bilateral deals with trade partners.