Tariffs live: Trump announces which countries will be hit as UK and Europe brace for ‘Liberation Day’ trade war
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Trump unveils 10% tariffs on imports from UK and 20% on EU in huge trade shake-up
- President Trump imposed sweeping tariffs on imported goods, claiming it would revitalize American industry and create a "golden age."
- The tariffs, ranging from 10% to 34%, target various countries based on trade deficits, with additional taxes on countries deemed to have unfair trade practices.
- Trump’s 10% tariff on imports from the UK will deal a major blow to small and medium businesses, an influential trade group has warned.
- Trump falsely asserted that foreign countries would pay these tariffs, despite them being paid by American importers and ultimately consumers.
- Economists and financial experts widely criticized the tariffs, warning of potential negative impacts like stagflation, while some Republican senators expressed concerns about retaliation and harm to specific industries.