Trump's latest tariffs: Here's how much more you'll have to spend on groceries, clothing and electronics [View all]
(Yahoo News) On Wednesday, President Trump finally announced his long-awaited “Liberation Day” tariff plan: a new 10% minimum tax on all goods entering the United States from overseas plus much-larger-than-expected “reciprocal” levies on imports from major trading partners such as China (34%), Japan (24%) and the European Union (20%).
To justify this unprecedented move — “one of the biggest, most abrupt economic gambles in presidential history,” as Axios put it — Trump claims that his tariffs would raise “trillions and trillions of dollars” in government revenue, revive American manufacturing and restore fairness to global trade.
“Taxpayers have been ripped off for more than 50 years,” the president said Wednesday. “It is not going to happen anymore.”
But experts warn that everyday Americans will have to pay a steep price — literally — in order to make Trump’s tariff dreams a reality (assuming that’s even possible).
https://www.yahoo.com/news/trumps-latest-tariffs-heres-how-much-more-youll-have-to-pay-for-groceries-clothing-and-electronics-according-to-a-new-analysis-195643215.html?.tsrc=daily_mail&segment_id=DY_VTO_CORE&ncid=crm_19908-1475736-20250404-0-&bt_user_id=p%2FJEglugYu%2BY9MzZqleuX%2FBJS5MhDlUmUPHT92AidDeY93zyyU9PdSKLnYRztcC1&bt_ts=1743776087338
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