Trump Imposes New Tariff on All Imports

Trump imposes new 10% tariff on all imports.
As reported by EFE.
Here are the details.

In a decision already causing concern in international markets, the new 10% tariff on all imports to the United States, decreed by President Donald Trump, took effect this Saturday at 12:01 a.m. (Eastern Time).

The measure affects products from 184 countries and territories, including the European Union, and marks a radical shift in U.S. trade policy.

Announced on April 2 during what Trump called “Liberation Day,” the tariff is aimed, according to the president, at protecting national security and encouraging the return of jobs to American soil.

However, experts and economic leaders warn that it could have negative economic consequences both domestically and internationally.

Trump imposes new 10% tariff on all imports

? The universal 10% tariff imposed by Trump on all U.S. imports is now in effect.

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The new tariff regime includes even higher rates for certain countries: European products will face tariffs of up to 20%, while some Chinese imports will be taxed at rates as high as 34%.

These differentiated tariffs will come into effect on April 9.

The executive order signed by Trump last Wednesday provides one exception:

Goods already loaded on ships and en route to the U.S. before Trump’s new tariff’s implementation are exempt, avoiding immediate chaos at customs.

Economic Impact of Trump’s Tariffs and Recession Fears

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Several analysts and financial institutions have voiced concern.

JPMorgan Chase increased the likelihood of a global recession from 40% to 60%, due to the risk Trump’s tariffs pose to global free trade.

Domestically, Federal Reserve Chairman Jerome Powell warned that the new tariffs could lead to more persistent inflation and slow economic growth.

Everyday goods such as housing, cars, and clothing may become more expensive, disproportionately affecting low-income families.

A Yale University study indicates that these households could see their wealth reduced by up to 5.5% as a direct result of rising prices on imported products.

A Historical Precedent with Troubling Echoes

This is the broadest tariff imposition since the Smoot-Hawley Act of 1930, signed by President Herbert Hoover, which drastically raised tariffs during the Great Depression.

Many economists agree that the decision worsened the global economic crisis of that era.

Trump has defended the tariffs, stating that although there may be a painful “transition” period, the long-term benefits — such as the return of industrial jobs to the U.S. — will justify the initial sacrifices.

For now, markets are watching closely and cautiously to see how global trade will respond to this new era of economic protectionism led by the White House.

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