President Trump announced that billions of dollars from new tariffs are flowing into the United States. These tariffs affect more than 90 countries, with rates between 10 and 50 percent. Customs and Border Protection began collecting these tariffs at midnight, following a delayed rollout. Trump described the tariffs as a correction to foreign trade abuses. Although the strategy has increased revenue, economists express concerns about its effects on U.S. consumers and markets. Additionally, a looming trade agreement deadline with China could lead to much higher tariffs if negotiations fail.
President Trump announced that billions of dollars are now being collected from new tariffs imposed on over 90 countries, with rates ranging from 10 to 50 percent.
Customs and Border Protection began implementing new tariffs at midnight, following a week-long delay, marking a significant shift in U.S. trade policy.
Despite the revenue generated from tariffs, economists caution about potential negative impacts on American consumers and markets.
The imminent deadline for a trade agreement with China could result in even higher tariffs, potentially reaching 245 percent if negotiations fail.
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