US President Donald Trump has announced sweeping new tariffs, marking a significant escalation in his trade policies.

A universal 10% tariff will now apply to most imports, with additional penalties for countries with high trade barriers against the US.

The European Union faces a 20% tariff, while Swiss imports will be hit with a 31% rate.

Trump claims these measures will revive American industry and reduce trade imbalances.

However, critics warn of a looming trade war, particularly with the EU and China, which could harm the global economy.

The move has sparked international backlash, with leaders like Swiss President Karin Keller-Sutter emphasizing the importance of free trade and international law.

Economists fear rising costs for US consumers and potential inflation as businesses pass on the tariffs.