President Donald Trump has enacted a ten percent tariff on nearly all imports, targeting countries like China, South Korea, and Taiwan. At a national emergency event dubbed "Liberation Day," he emphasized that these actions are necessary due to the threats posed by foreign trading practices to U.S. security and economy. Specific retaliatory tariffs have also been levied against many nations, with substantial rates imposed particularly on Thailand, Malaysia, and Vietnam, likely leading to increased consumer prices across America.
The blanket tariff comes into force on April 5, affecting various nations and is expected to raise prices for American consumers.
Trump cited Indian import duties as one example of unfair practices, declaring a national emergency over perceived threats to US economic security.
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