The US has imposed tariffs on India at 26% and China at 104%, escalating trade tensions.Following the US tariffs, several countries negotiated with the US to offset the impact, while China retaliated with 34% tariffs.Other countries facing increased import tariffs include the Philippines (17%), Pakistan (29%), and Switzerland (31%), among others.The S&P 500 lost nearly $6 trillion in value since the announcement of the tariffs, causing global stocks to plummet.