Leaders of more than 60 countries have been plunged into a fresh race to secure trade deals with the US after Donald Trump unleashed global chaos with sweeping new tariff rates.

Trump’s latest blitz triggered a wave of market jitters and fears for jobs in some of the poorest countries, as tariff rates were signed off ranging from 50% to 10%.

There was a minor reprieve that opened the door to further negotiations, after the White House said the updated tariffs would take effect on 7 August, not on Friday, the deadline previously set by Trump.

The new rates, which Trump sees as benefiting US exporters, create uncertainty for dozens of countries,