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President Trump unveiled a comprehensive new tariff strategy that combines a universal 10% tax on all imported products with additional “reciprocal” levies targeting specific trading partners. China will face the steepest total tariffs at 54% (a new 34% levy on top of an existing 20% duty), while the European Union will be charged 20% and Japan 24%.
Trump described these as approximately half of what these nations charge the US. The baseline 10% tariff takes effect Saturday at 12:01 a.m. Eastern, with the reciprocal tariffs following on April 9. Additionally, goods compliant with the US-Mexico-Canada Agreement will continue receiving preferential treatment. The announcement comes amid other tariff implementations, including new 25% duties on foreign-made cars and certain auto parts.
While supporters view the tariffs as essential for boosting American manufacturing and jobs, economists warn they could accelerate inflation at a time when consumers are already struggling with high prices.
