President Donald Trump just set new tariffs for every country around the world, solidifying his extreme break with America’s long-standing trade policy.

Trump has justified tariffs on goods from Canada, the top U.S. export market, by accusing it of failing to stop the cross-border flow of fentanyl, even though U.S. government data shows Canada accounts for only 1% of the fentanyl that enters the United States.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

Swiss manufacturers warned on Friday that tens of thousands of jobs were at risk after U.S. President Donald Trump hit them with one of the highest tariff rates in his global trade reset, even if there was some relief for now for the key drugs sector.

The Swiss government said Friday it would negotiate with the United States to try to avoid the tough 39-percent US tariff rate that would harm key industries.

After Canada failed to strike a trade deal with Washington, the president raised tariffs on some Canadian exports this week.

In the wake of US President Donald Trump's latest tariff blitz on dozens of economies, China has reiterated a stern warning against protectionism amid growing concern that it will "harm the interests of all parties".

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.