© Sarah Warnock, Clarion Ledger
(Washington, DC) — President Trump has signed new U.S. global tariffs, keeping in line with his campaign promise. The tariffs cover a wide-range of products and are targeting several countries, including Canada, Mexico, China and the European Union.
Trump called the reciprocal tariffs “Liberation Day” for the U.S. after trading partners have “looted, pillaged, and raped” American industries for decades, leading to a loss of U.S. jobs and manufacturing. All countries will have an immediate ten-percent baseline tariff on imported goods, and many are also getting hit with larger tariffs on top of that. He added that it’s part of his plan to “Make America Wealthy Again,” claiming today is one of the most important days in American history.
Trump held up a chart while speaking at the White House, showing the United States would charge a 34 percent tax on imports from China, a 20 percent tax on imports from the European Union, 25 percent on South Korea, 24 percent on Japan and 32 percent on Taiwan.
Critics claim the reciprocal tariffs are unfair and could lead to hyper-inflation.
