US President Donald Trump's sweeping new tariffs on countries around the world have come into effect in an escalation of his trade war. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" he said on social media minutes before midnight in Washington, DC.

U.S. trade partners such as Switzerland, Brazil and India were still scrambling to get a better deal on Thursday as President Donald Trump's higher tariff rates on imports from dozens of countries kicked in,