Donald Trump announced sweeping new tariffs on US imports on Wednesday, taking the global economy into a new era of trade competition.
The measures, announced from the White House’s Rose Garden during what Trump dubbed “liberation day”, include a baseline universal levy as well as targeted reciprocal tariffs.
Many economists fear the levies will raise inflation in the world’s largest economy. But they could endure until Trump believes his goals — including raising revenues and reviving manufacturing in the US — have been met.
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