As US trade tariffs sweep the globe, let's take stock of what it all means.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm Sarah Rogers. Good morning.

From today, President Trump's tariffs are now in effect.

They range from 10% to as high as 50% depending on where in the world you are. From Singapore,

here's the BBC's Sarangina Tuari. Many products, including those from the European Union, Japan and

South Korea now face a 15% tariff, even with trade deals struck with Washington to avert steeper

levies. Hours before the higher tariffs came in, the US president threatened to impose a 100% duty

on foreign-made computer chips.

Some of Asia's biggest chipmakers will be exempt because Mr. Trump said those with factories

in the US would not have to pay.

But experts say smaller American businesses will be affected, especially those importing chips from countries like Malaysia and the Philippines.

Serangina Tuari there. Some countries negotiated a trade deal to avoid those higher tariffs,

but some, like Switzerland, which is facing a 39%

levy, fail to get an agreement through in time. Its government will hold crisis talks on what to do

next. From today, India faces a 25% duty and it will be hit with an additional 25% in three weeks

because the country imports oil from Russia.

The BBC's Davina Gupta is in Delhi as businesses assess the impact of that announcement.

Well, I'm at a commercial district in the capital city.

Around me, there are shops which are selling garments and bags and shoes and there's a truck

which is unloading rolls of cloth. So this is the place where you would find wholesale dealers

which are also exporting these products to the US and they are extremely worried with these additional

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