The U.S. has implemented tariffs on more than 90 countries, raising import taxes to the highest levels since the Great Depression. Tariffs range from 15% on imports from countries like Bolivia and Nigeria to 50% on India and Brazil. President Trump has imposed the high rate on India to compel it to cease purchasing Russian oil. Similarly, Brazil faces a 50% tariff linked to the prosecution of former President Jair Bolsonaro, which Trump denounces as a 'witch hunt.'
Jayati Ghosh emphasizes the hypocrisy surrounding recent tariffs, reflecting on the inconsistent application as many countries, including the U.S. and EU, continue to purchase Russian oil.
The new tariffs, affecting more than 90 countries, have raised import taxes to their highest levels since the Great Depression, imposing drastic rates on various nations.
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