Switzerland has been hit with a 39 per cent US tariff — totalling about 44 per cent for Richemont once existing duties are included — since August, the highest imposed on any developed economy. Washington has cited Switzerland’s $39bn trade surplus with the US as justification.

Norbert Steuer, a logistics worker at Swiss precision machinery maker K.R. Pfiffner, has been at the firm for over three decades. Now he is one of 80 out of 105 staff due to be let go as it reels from U.

More expensive safety equipment means most businesses are delaying orders of employee protective gear, or using cheap alternatives that could raise accident rates on the job.

Canada’s forestry industry plans to divert a significant share of its wood exports from the US to new international markets, claiming that Donald Trump’s latest trade tariffs will lead to lumber shortages and drive up building costs in America.

Most big emerging economies, including China, Brazil and India, can weather U.S. tariffs without excessive pain, a study by risk consultancy Verisk Maplecroft showed, raising doubt about the clout of President Donald Trump's trade tools.

SEOUL (Reuters) -South Korea's government said on Friday it would boost subsidies for electric vehicles (EVs) by 20% next year as part of a package to help the country's auto industry weather risks caused by U.S. tariffs.

Mexico raised tariffs of up to 210% on sugar imports from countries with which it doesn’t have a trade deal, part of a plan to protect the domestic industry from falling prices.

The United States is analyzing the negotiation proposal sent by Brazil regarding tariffs and a response is expected soon, the Brazilian foreign minister said on Thursday, citing the U.S. Secretary of State Marco Rubio who he had met earlier in the day.