Trump Announces Universal Tariffs Of 10% To 49%

The New York Times reports:

Calling his announcement a “declaration of economic independence,” President Trump imposed sweeping retaliatory tariffs at a Rose Garden ceremony. He said he would establish a universal baseline tariff of 10 percent, and additional rates that apply to certain countries. Some of the rates he announced — 34 percent for China, 26 percent for India, 24 percent for Japan — were much higher than what some economists and policymakers had been expecting.

Canada and Mexico, which have been targets of Trump’s previous rounds of tariffs and are the United States’ top trading partners, were not mentioned for additional tariffs in the president’s chart of rates for each trading partner, nor in detailed country-by-country documents handed out to reporters in the Rose Garden.

Uncertainty over Mr. Trump’s

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