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Trump’s 10% Global 'Baseline' Tariff Takes Effect Amid Market Turmoil

  • U.S. Customs began collecting President Donald Trump's 10% tariff on imports, effective Saturday at 12:01 a.m. ET, marking a shift in U.S. Trade policy.
  • President Trump's tariff announcement caused a $5 trillion decline in S&P 500 stock market value over two days, marking a record decline by Friday's close.
  • China retaliated by imposing a 34% tariff on all American imports, effective April 10, according to China's Ministry of Finance.
  • China has filed a lawsuit with the World Trade Organization against the U.S. Tariffs, asserting its rights and interests.
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The Washington Hispanic broke the news in Washington, United States on Friday, April 4, 2025.
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