US president Donald Trump on Wednesday unveiled sweeping tariffs of at least 10 per cent on goods imported from most US trading partners.
The president, displaying a chart at the event in the Rose Garden of the White House, outlined how dozens of countries with the largest trade imbalances will face even higher rates, in his biggest assault yet on a global economic system he has long bemoaned as unfair.
Trump said Wednesday he will apply a minimum 10 per cent tariff on all exporters to the US and slap additional duties on around 60 nations with the largest trade imbalances with the US. That includes substantially higher rates on some of the country’s biggest trading partners, such as China — which now faces a 54 per cent total tariff — the European Union and Vietnam.
“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper,” Trump said during an event in the White House Rose Garden. - Wires
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