For instance, Trump said, the U.S. estimated a total trade barrier rate of 67% for China, meaning the U.S. would impose a 34% tariff in response. The U.S. assessed a European Union trade barrier rate of 39%, Trump said, adding that the U.S. reciprocal tariff would register at 20%.

The new tariffs — coming on what Trump has called “Liberation Day” — is a bid to boost U.S. manufacturing and punish other countries for what he has said are years of unfair trade practices. But by most economists’ assessments, the risky move threatens to plunge the economy into a downturn and mangle decades-old alliances.

President Donald Trump was expected to roll out the largest set of new trade barriers in generations Wednesday.

Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on nations that run trade surpluses with the US.

President Donald Trump announced sweeping 10% tariffs on imports from all countries Wednesday and additional duties targeting about 60 nations, fulfilling a pledge to retaliate against countries he said have treated the U.

President Donald Trump announced Wednesday that he will impose a 10 percent tariff on imports from all countries around the world and will slap an additional, individualized tariff on approximately 60 countries his administration believes have the most unfair trade relationships with the U.

Elon Musk is planning to step away from his role at the Department of Government Efficiency (DOGE), according to a new bombshell report. Much of Donald Trump’s second tenure in office has been highlighted by his controversial decision to make the Tesla CEO and SpaceX founder one of the most powerful people in his cabinet.