U.S. President Donald Trump announced new reciprocal tariffs on imports, ranging from 10% to 50%, targeting countries with high trade barriers against American goods. China faces a 34% tariff, the EU 20%, and Cambodia 49%. The move, branded as “liberation day,” aims to protect U.S. industries and boost domestic production. Mexico and Canada are exempt from the new tariffs. Critics, including Senator Mark Kelly, warn the tariffs will increase costs for American consumers. The announcement led to declines in stock market futures, with shipping stocks taking a hit.
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Source: TradeWinds
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