US Trade Representative Jamieson Greer said the failure of key trading partners to curb imports of goods produced through forced labour creates an “unlevel playing field” for American workers and companies.

India intends to continue importing oil from Russia despite Trump’s warnings.

The announcements, made via Trump's Truth Social platform on Friday, disrupted global financial markets after a period of relative calm.

China criticised US tariffs

In retaliation, China’s Ministry of Commerce also introduced stricter export controls on key rare earth minerals

Spot gold dipped 0.3% to $3,103.00 per ounce