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Trump announces 10% baseline tariff on all imports, higher 'reciprocal' tariffs against select countries

  • President Donald Trump announced a 10% tariff on all imports starting April 5, with higher rates for 60 countries, including 34% on China, effective April 9.
  • Financial markets fell sharply after the announcement, with major stock indices declining from a gain to a 2% drop by closing.
  • Experts believe tariffs will be paid by importers and may lead to increased consumer prices, amidst already high inflation levels.
  • The tariffs risk escalating tensions with global trading partners and reflect Trump's long-standing belief in the effectiveness of tariffs to boost the U.S. Economy.
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Countries eye trade talks as Trump tariff blitz roils markets

Major US trade partners pilloried US President Donald Trump's global tariffs onslaught on Thursday, but left the door open to negotiations as markets tanked over fears his trade war would damage the world economy.

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npr broke the news in Washington, United States on Wednesday, April 2, 2025.
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