President Donald Trump says he would impose a 10% baseline tariff on all imports to the United States and higher duties in many other countries, including major trading partners.
Full story: https://www.rappler.com/business/trump-announces-tariff-imports-countries/
Full story: https://www.rappler.com/business/trump-announces-tariff-imports-countries/
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00:00President Donald Trump says he would impose a 10% baseline tariff on all imports to the
00:05United States and higher duties in many countries, including major trading partners.
00:10The 10% baseline tariff will start on Saturday.
00:13This move would create new barriers for the world's largest consumer economy, reversing
00:17decades of trade liberalization.
00:19Other countries are expected to retaliate, potentially leading to higher prices for products
00:24like bicycles and wine.
00:26Chinese imports will face a 34% tariff on top of the 20% already imposed, making the
00:31new total levy 54%.
00:33Even close U.S. allies are also affected, including the European Union with a 20% tariff
00:38and Japan with 24%.
00:41A White House official speaking anonymously says the higher penalties will begin on April
00:459 and apply to about 60 countries.
00:48Trump claims the new tariffs will boost manufacturing jobs at home.
00:52Economists warn that tariffs could slow down the global economy, increase recession risks
00:56and raise U.S. living costs.