US President Donald Trump has unveiled a fresh round of punishing tariffs on a broad range of imported goods, including 100 per cent duties on branded drugs and 25 per cent levies on heavy-duty trucks.

The latest salvo, which Trump said was to protect the US manufacturing industry and national security, follows sweeping duties on trading partners of up to 50 per cent and other targeted levies on imported products such as steel.

The barrage has cast a pall over global growth and paralysed business decision-making around the world, while the Federal Reserve has said it is also contributing to higher consumer prices in America.

Trump's latest announcements on Truth Social did not mention whether the new levies would stack on top of existing national tariffs.

But recently struck trade deal

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