Five key takeaways from Trump’s ‘Liberation Day’ reciprocal tariffs
Al Jazeera
US President Donald Trump has further escalated a trade war, announcing reciprocal tariffs on all countries.
President Donald Trump has announced a series of sweeping tariffs against trade partners, describing April 2 as “Liberation Day” and arguing that the punitive steps would bring industry and jobs back to the United States by fighting against what he claims are unfair duties imposed by others on US goods.
Trump’s latest tariffs, announced on Wednesday, coupled with a series of similar moves since he returned to office on January 20, mark the most dramatic escalation in US tariffs in almost a century.
Several nations have said they would retaliate, raising the risk of a global trade war marked by tit-for-tat tariffs.
Here are the key takeaways from the latest round of US tariff announcements:
Trump has, in effect, blown up the global trading system that has stood for more than 75 years and that was based on the premise that encouraging free trade was ultimately advantageous to all nations.
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