U.S. President Donald Trump’s latest wave of tariffs on exports from dozens of trading partners sent global stock markets tumbling on Friday and countries and companies scrambling to seek ways to strike better deals.
As Trump presses ahead with plans to reorder the global economy with the highest tariff rates since the early 1930s, Switzerland, “stunned” by 39% tariffs, sought more talks, as did India, hit with a 25% rate.
New tariffs also include a 35% duty on many goods from Canada, 50% for Brazil, 20% for Taiwan, which said its rate was “temporary” and it expected to reach a lower figure.
The presidential order listed higher import duty rates of 10% to 41% starting in a week’s time for 69 trading partners, taking the U.S. effective tariff rate to about 18%, from 2.3% last year, acco…