Former President Donald Trump’s sweeping decision to impose tariffs on multiple countries has sent shockwaves through global markets and diplomatic circles. Yet, the move was anything but spontaneous. For years, Trump has voiced his belief that the U.S. has been exploited in international trade, and now, in a bold declaration of “economic independence,” he’s putting those beliefs into policy.
As of Friday night, a 10% tariff now applies to nearly all imports to the United States. Some countries face even steeper penalties — including a 53% tariff on Chinese goods, and a 20% rate on imports from both the European Union and South Korea.