Trump unveils slew of new tariffs, punishes Canada

Washington: President Donald Trump unveiled new tariffs Thursday on nearly 70 countries including a blistering 35 percent on neighbor Canada as...

Washington: President Donald Trump unveiled new tariffs Thursday on nearly 70 countries -- including a blistering 35 percent on neighbor Canada -- as he seeks to reshape global trade to benefit the US economy.

However, in a minor reprieve that opens the door to further negotiations, the White House said the measures will take effect in a week for most countries, not Friday as previously expected.

The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while encouraging domestic manufacturing by keeping out foreign imports.

But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy.