Trump announces tariffs, the highest import taxes since the 1800s

Source: msn


Story by Courtenay Brown • 1h •
President Trump announced a baseline 10% tariff on U.S. imports, with steeper reciprocal levies on goods from Europe, Japan, China and more than 50 other nations.

Why it matters: Trump's announcement ends the free-trade era that has defined global commerce for decades — a move that risks higher consumer prices and economic damage.

What they're saying: "This is one of the most important days in my opinion, in American history," Trump said in remarks delivered at a "Liberation Day" event in the Rose Garden.

"We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers," Trump added.
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What to watch: It is President Trump's gamble to revive domestic manufacturing, raise revenues to offset tax cut costs and push other nations to adhere to non-trade related demands..........................







Read more: https://www.msn.com/en-us/money/markets/trump-announces-tariffs-the-highest-import-taxes-since-the-1800s/ar-AA1CaWBn?ocid=winp1taskbar&cvid=f7a5ccf26dea4b308bee241ddae4997b&ei=13