Trump administration reimpose tariffs on over eighty countries globally

The Trump administration has announced new import taxes on more than 80 countries, including EU members. The move follows a February Supreme Court ruling that cancelled many of Trump's earlier tariffs.

The new announcement puts fresh pressure on the world economy at a difficult time. Oil prices have risen to around $100 per barrel because of a conflict in the Persian Gulf. The United States is currently in a military conflict with Iran, and key trade routes in the region are blocked. This has disrupted global energy supplies.

Economists say global growth is weaker now than when Trump first announced tariffs last April. Some forecasters have raised their growth predictions slightly, but the combination of higher energy costs and new tariffs is adding strain to international trade.