President Trump’s latest tariff announcement on April 2 marks a significant shift in U.S. trade policy. The announcement included a 10% baseline tariff on all imports from any country, set to take effect on April 5. Additionally, a separate set of “reciprocal tariffs” were announced, with the United States imposing higher tariffs, including a 34% tariff on Chinese imports and a 20% tariff on the European Union starting on April 9.
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