Trump's new US tariffs come into effect

Higher new global tariffs imposed by President Donald Trump ranging from 15% to 50% on goods shipped to the US took effect on Thursday.

Trump signed executive orders last week to impose so-called "reciprocal" tariffs on over 67 countries despite fears this could push up inflation and slow job growth.

The highest rates are on goods from India (50%), Brazil (50%), Laos (40%), Myanmar (40%), Switzerland (39%), Iraq (35%), and Serbia (35%).

An additional 21 countries also face levies greater than 15%, including Vietnam (20%), Taiwan (20%), Pakistan (19%), and Thailand (19%).

Initially, India was slapped with a 25% duty, but Trump on Wednesday announced an additional 25% tariff for New Delhi's continued purchases of Russian oil, opening a new front in his trade wars.

India condemned Trump's announcement, calling the move "unfair, unjustified, and unreasonable."

Separately, a White House official said Japanese imports will not be given special treatment as Tokyo had believed under a recent trade deal, Kyodo News reported.

The Trump administration's 15% tariff rate for Japan will be on top of pre-existing duty rates applied to imports from Tokyo, unlike in the case of the European Union, according to the official, who spoke on condition of anonymity.

The development is in clear contrast to the Japanese government's explanation of the terms of the last-minute trade deal between the two allies.