In a significant policy shift, President Trump announced new tariffs affecting over 180 countries, with a minimum tax of 10% on nearly all imports. Some nations, including China and Cambodia, face even steeper taxes, potentially escalating tensions in global trade. The administration argues this will bolster American manufacturing and address trade imbalances. However, experts warn this could lead to increased inflation and possibly a recession. Global leaders have reacted negatively, urging collaboration to reverse these changes, which have already caused unsettling fluctuations in the U.S. stock market.
President Trump's sweeping tariffs, impacting over 180 countries with rates starting at 10%, aim to shift the balance of trade and boost U.S. manufacturing.
Experts warn that while the administration frames this as rewarding American jobs, the tariffs may lead to heightened inflation and potentially trigger a recession.
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