US President Donald Trump's new global tariffs, which range from 15% to 41%, came into effect on Thursday, affecting dozens of countries including the European Union, Japan, and South Korea. The tariffs are part of Trump's efforts to revive domestic manufacturing and punish countries he deems unfair in trade practices. India will face a 50% duty, while Syria, Myanmar, and Laos will be hit with 40-41% tariffs. Switzerland has expressed commitment to talks aimed at lowering levies, despite being subject to a 39% tariff. The move is expected to hurt smaller American businesses, but some exemptions have been granted for certain sectors.