The Trump administration announced new trade measures, imposing a 10% baseline tariff on goods from numerous countries, effective April 5. During a White House event dubbed "Liberation Day," President Trump labeled certain countries as "worst offenders" that would face even higher tariffs starting April 9. Canada and Mexico are exempt from this new minimum tariff, but existing tariffs on aluminum and steel remain. The measures are poised to have significant ramifications on the global economy and trade relationships.
U.S. President Donald Trump introduced sweeping new tariffs, applying a minimum 10% tariff to most countries, with Canada and Mexico exempt from the new tariffs.
While Canada is protected from new tariffs, existing tariffs on aluminum and steel imports at 25% will remain, significantly impacting trade relationships.
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