A group of volcanic islands located near Antarctica and whose only inhabitants are colonies of penguins and seals is listed among foreign states subject to U.S. trade tariffs.

The Trump administration’s “liberation day” tariffs will be no joke for global economies. The challenge of assessing the risk that Trump 2.0 tariffs pose to individual nations is complicated by the intricate web of intraregional trade among nations.

Trump's new tariffs impact Apple Inc.'s supply chain, earnings, and valuation. Click here to find out why AAPL stock is a Sell.