INSUBCONTINENT EXCLUSIVE:
meaningful trade surpluses with the United States, while imposing a 10% baseline tax on imports from all countries in response to what he
called an economic emergency.The president, who said the tariffs were designed to boost domestic manufacturing, used aggressive rhetoric to
It kickstarts what could be a painful transition for many Americans as middle-class essentials such as housing, autos and clothing are
expected to become more costly, while disrupting the alliances built to ensure peace and economic stability.Trump said he was acting to
He has promised that factory jobs will return to the United States as a result of the taxes, but his policies risk a sudden economic
slowdown as consumers and businesses could face sharp price hikes.Trump was fulfilling a key campaign promise as he imposed what he called
Several Republican senators, particularly from farm and border states, have questioned the wisdom of the tariffs
United States stock market futures sold off sharply overnight in anticipation of the economy weakening, after having already dropped since
The administration essentially calculated its tariff rates to raise revenues equal in size to the trade imbalances with those nations
$1.2 trillion imbalance last year
Administration officials suggested it could take an extended set of actions by other countries to bring down the new tariffs their imports
now face, and retaliatory tariffs by those countries could make the situation worse.Olu Sonola, head of United States economic research at
says is an effort to stop illegal immigration and drug smuggling
As of now, goods that comply with the USMCA North American trade pact would be excluded from those tariffs.But the 20% charged on imports
from China due to its role in fentanyl production would largely be added to the 34% announced by Trump
The specific products that Trump is tariffing, such as autos, would be exempt from the tariffs unveiled Wednesday, as would products such as
pharmaceutical drugs that he plans to tariff at a later date.============Threats of backlashNone of the warning signs about a falling stock
market or consumer sentiment turning morose have caused the administration to publicly second-guess its strategy, despite the risk of
speech, said the taxes would raise hundreds of billions of dollars annually in revenues
They said the 10% baseline rate existed to help ensure compliance, while the higher rates were based on the trade deficits run with other
nations and then halved to reach the numbers that Trump presented in the Rose Garden.The 10% rate would be collected starting Saturday and
the higher rates would be collected beginning April 9.Trump removed the tariff exemptions on imports from China worth $800 or less
He plans to remove the exemptions other nations have on imports worth $800 or less once the federal government certifies that is has the
staffing and resources in place.Based on the possibility of broad tariffs that have been floated by some White House aides, most outside
analyses by banks and think tanks see an economy tarnished by higher prices and stagnating growth.Trump would be applying these tariffs on
his own; he has ways of doing so without congressional approval
declining consumer sentiment are signs of trouble to come.Rep
The chair of the Democratic Congressional Campaign Committee stressed that Trump should not have the sole authority to raise taxes as he
President Trump promised on the campaign trail that he would lower costs on day one
preparing their own countermeasures
Canada has imposed some in response to the tariffs that Trump tied to the trafficking of fentanyl
The European Union, in response to the steel and aluminum tariffs, put taxes on 26 billion euros ($28 billion) worth of United States
goods, including on bourbon, which prompted Trump to threaten a 200% tariff on European alcohol.Many allies feel they have been reluctantly
of tariffs and other trade barriers.The flip side is that Americans also have the incomes to choose to buy designer gowns by French fashion
nowhere, and trade and tariff wars have no winners
Jay Foreman, whose company is behind such classic toys as Tonka trucks, Lincoln Logs and Care Bears, has been working hard to come up with
a 34% increase in tariffs on Chinese imports has solidified his decision to hike prices
