Trump tariffs spark defiance

— Higher tariffs likely to impact global supply chains and inflation — Several major trading partners secure reduced tariff rates — Tariffs increase US federal revenues, further sectoral duties possible — Switzerland, South Africa, Brazil and India still seeking better terms — India's Modi and Brazil’s Lula adopt defiant stances

- REUTERS

US President Donald Trump's higher tariffs on imports from dozens of countries kicked in Thursday, raising the average US import duty to its highest in a century and leaving major trade partners such as Switzerland, Brazil and India hurriedly searching for a better deal.

The US Customs and Border Protection agency began collecting the higher tariffs of 10% to 50% at 12:01 am EDT (0401 GMT) after weeks of suspense over Trump's final tariff rates and frantic negotiations with countries seeking to lower them.

The leaders of Brazil and India vowed not to be cowed by Trump's hardline bargaining position, even while their negotiators sought a reprieve from the highest tariff levels.

The new rates will test Trump's strategy for shrinking US trade deficits without causing massive disruptions to global supply chains or provoking higher inflation and stiff retaliation from trading partners.

'BILLIONS' OF TARIFF REVENUE