Trump imposes global tariffs

Jacob Lazurek Coinpaprika

Donald Trump has launched a sweeping new tariff plan aimed at reshaping global trade, imposing broad duties on imports and escalating tensions with key US trading partners.

Donald Trump has announced major new tariffs on US imports, signaling a tough new phase in global trade. From the White House Rose Garden, Trump introduced a baseline 10% tariff on all imports and additional targeted tariffs on 60 countries the US labels as the biggest trade offenders. These new tariffs, which could reach up to 50%, are set to take effect in early April.

Key countries are hit with steep new tariffs: the EU faces a 20% levy, Japan 24%, and China is now subject to a 54% total tariff when combining the new and existing duties. Some Southeast Asian countries like Cambodia, Laos, and Vietnam face tariffs nearing 50%. However, Mexico and Canada are spared from the most severe penalties, and UK goods are only hit with the base 10% tariff — a sign of possible warmer trade ties.

The tariffs aim to reduce the US trade deficit, boost domestic manufacturing, and raise revenue. Trump is using emergency powers, citing national economic security. While exemptions exist for critical goods like energy, semiconductors, and medicines, new investigations may lead to future duties. The administration signaled the tariffs could stay in place or even increase, unless trading partners change their practices to align with US demands.

Author

Jacob Lazurek

Coinpaprika

In the dynamic world of technology and cryptocurrencies, my career trajectory has been deeply rooted in continuous exploration and effective communication.

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