Trump announces sweeping new tariffs, upending decades of US trade policy

Donald Trump announced sweeping tariffs on some of its largest trading partners on Wednesday, upending decades of US trade policy and threatening to unleash a global trade war on what he has called “liberation day”.

Trump said he will impose a 10% universal tariff on all imported foreign goods in addition to “reciprocal tariffs” on a few dozen countries, charging additional duties onto countries that Trump claims have “cheated” America.

The 10% universal tariff will go into effect on 5 April while the reciprocal tariffs will begin on 9 April.

“This is one of the most important days, in my opinion, in American history,” Trump said in a long-winded speech on the White House lawn. For decades America had been “looted, pillaged and raped” by its trading partners, he said. “In many cases, the friend is worse than the foe.”

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