In a bold move amid growing global trade tensions, the White House confirmed that U.S. President Donald Trump will impose new tariffs starting immediately after his announcement. The measures are expected to serve as reciprocal actions against countries that impose duties on U.S. goods.
Set for 4 p.m. Eastern Time (2000 GMT), the announcement brings additional uncertainty for businesses, consumers, and investors worldwide. In a related development, a 25 percent tariff on auto imports is scheduled to take effect on April 3, signaling major changes for the automotive sector.
While exact details on the full scope of the tariffs remain under wraps, reports suggest that aides are considering raising duties by around 20 percent on products from nearly every country. Some estimates even hint at the potential to generate over $6 trillion in revenue, with plans for some of that sum possibly rebated to American citizens.
This evolving tariff strategy is not just a domestic economic maneuver; its ripple effects will influence global markets and trade policies. From entrepreneurial innovators and tech enthusiasts to thought leaders and avid travelers, the international community is watching closely as these measures reshape parts of the global economic landscape.
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White House: Broad tariffs effective immediately after announcement
cgtn.com
