In a recent ceremony at the White House Rose Garden, President Trump declared his most extensive tariffs yet, imposing at least 10 percent duties on all trading partners with exceptions for Canada and Mexico. This move is framed as a response to a national emergency aimed at bolstering domestic production. Following the announcement, Wall Street faced immediate downturns, indicating concern over economic repercussions. European officials began planning countermeasures, including potential tariffs on American tech and finance sectors, reflecting global tensions in trade policies and markets.
President Trump unveiled his most expansive tariffs to date yesterday, including tariffs of at least 10 percent on all trading partners except Canada and Mexico.
He framed his policies as a response to a national emergency, saying that tariffs were needed to build up domestic production.
This is liberation day, Trump said. He called the announcement our declaration of economic independence and described it as one of the most important moments in American history.
European officials are poised to respond with countermeasures, discussing penalties like tariffs or market access restrictions on U.S. technology companies.
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