President Trump announced an extensive set of tariffs on nearly every country worldwide, commencing with a default 10% levy on most imports. The announcement led to considerable drops in stock prices for major American companies and prompted concerns from economists and business leaders. Some countries faced even higher tariffs. Notably, Canada and Mexico were spared from new tariffs, though previous tariffs still impact trading dynamics. This significant move, labeled 'Liberation Day' by Trump, is expected to strain both U.S. businesses and consumer pricing.
President Trump's tariffs were announced on a day the president coined 'Liberation Day.' Business leaders, economists, and global heads of state were on edge before the announcements, fearing just how high the tariffs would be.
Trump announced a minimum 10% tariff on nearly every country worldwide. This means nearly every good that is imported into the United States will be slapped with a default 10% levy.
Major American companies like Apple, Amazon, Nike, Tesla, and Walmart are seeing their share prices decline this morning, while Nasdaq, Dow, and S&P futures have fallen significantly.
Countries that were only hit with a 10% tariff could count themselves relatively lucky, as Trump levied much higher tariffs against dozens of countries, important for American imports.
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