New Tariffs Stir Economic Uncertainty
Several nations are planning to retaliate while still holding out hope for negotiation
New tariffs, announced Wednesday on what President Trump pegged Liberation Day, include a baseline duty of 10 percent on imports from all countries and larger so-called "reciprocal tariffs." A 20 percent broad tariff would cost the average consumer $3,400 to $4,200 a year, according to the Yale Budget Lab, as people start to tighten their belts and brace for higher costs on imported goods.
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