President Donald Trump has announced the imposition of a 10 per cent tariff on all imports into the United States.
The president made the announcement on Wednesday during an address at the White House Rose Garden.
While the minimum baseline 10 per cent levy applies to all nations, several countries will face reciprocal tariffs.
Trump referred to April 2, the date the new tariff plan is set to take effect, as “Liberation Day,” stating that the U.S. had been exploited for many years.
The president had already imposed a 25 per cent tariff on all foreign-made vehicles, as well as a 25 per cent tariff on imports of steel and aluminium.
