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US Tariff: Trump Announces ‘Liberation Day’ Reciprocal Tariffs
US President Donald Trump unveils sweeping new “Liberation Day” tariffs, saying that they will create a hard reset on US industry, eventually leading to a stronger economy and lower prices for US consumers.
Speaking at the “Make America Wealthy Again” event in the Rose Garden, Trump says the US “has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike” for decades.
Trump announced 25 percent tariffs on auto imports last week on all cars and parts made outside the US. These duties will go into effect on Wednesday.
Trading partners from the European Union to Canada and Mexico have said they’ll respond with retaliatory tariffs and other countermeasures, even as some have sought to negotiate with the White House.
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