Stop me if you’ve heard this one before: a new wave of tariffs are taking effect today.
Announced on July 31st, the latest set of tariffs imposed by President Donald Trump on foreign imports – possibly illegally – will set a floor of 15 percent for around 40 countries with a trade deficit with the US. There’s an even higher rate for another couple dozen countries, as CNN has reported. This raises the floor for many countries from the universal tariff rate of 10 percent that Trump previously levied, though some goods, like smartphones, are carved out of higher rates. Tariff escalation seems far from over, with Trump threatening on Wednesday …
Read the full story at The Verge.
Original Source: https://www.theverge.com/policy/754356/trump-reciprocal-tariffs-august
Original Source: https://www.theverge.com/policy/754356/trump-reciprocal-tariffs-august
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