In a world still recalibrating after pandemic disruptions and geopolitical realignments, the sudden surge in US tariffs under President Donald Trump’s latest executive order has rattled global businesses. While the administration frames the move as a necessary recalibration of out-dated trade pacts, the broader impact reveals a mix of strategic coercion and economic brinkmanship that risks destabilising supply chains and fanning inflation both within and beyond American borders. The tariff hikes span more than 90 countries, from major players like India and Brazil to smaller economies such as Laos and Switzerland.

The rationale: reward nations that swiftly renegotiate trade deals, penalise those that don’t. But this conditional framework has done little to mask the underlying asymmetry in bargaining power. Many nations have secured only partial reprieves under pressure, while others ~ despite strong economic ties with the US ~ have found themselves blindsided by sharp........

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