Numerous nations are affected by Trump's expansive new tariffs.

 Getty Images Two ships at the Port of Oakland, California, carrying containers of various colors. While the other ship is being steered by two pilot boats, 

one of the ships is tied to the dock. Getty Photos US President Donald Trump's sweeping new tariffs on more than 90 countries around the world have come into effect.

 Moments before his deadline passed for countries to negotiate US trade deals, Trump posted on his Truth Social platform that billions of dollars were now flowing into his country as a result of his import taxes.


 Among his other political objectives, Trump is utilizing tariffs to encourage the return of manufacturing jobs and industries to the United States. 


Separately on Wednesday, he threatened to raise the tariff on imports from India to 50%, unless that country stopped buying Russian oil. 

 In an effort to encourage technology companies to increase their investments in the United States, he also threatened a 100 percent tariff on computer chips made in other countries.

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