Trump's sweeping new tariffs take effect against dozens of countries

US President Donald Trump's sweeping new tariffs on more than 90 countries around the world have come into effect.

Moments before his deadline passed for countries to negotiate US trade deals, Trump posted on his Truth Social platform that billions of dollars were now flowing into his country as a result of his import taxes.

Trump is using tariffs to encourage jobs and manufacturing industries to return to America, among other political goals.

Separately on Wednesday, he threatened to raise the tariff on imports from India to 50%, unless that country stopped buying Russian oil. He also threatened a 100% tariff on foreign-made computer chips, to push tech firms to invest more in the US.