Trump to Announce New Tariffs
US President Donald Trump is set to announce a new round of tariffs, with details to be revealed on Wednesday. Trump has already imposed duties on Chinese imports, steel, aluminum, and some goods from Canada and Mexico, with higher car tariffs due this week. The White House calls it 'Liberation Day' but has not specified tariff rates. Trump previously backed a 10% tariff on all imports, suggesting up to 60% on Chinese goods. The new tariffs could affect multiple countries, including the EU, China, and Canada, heightening global trade tensions. Businesses face increased costs, potentially raising prices for US consumers and raising recession risks.