Trump Announces Comprehensive Tariff Policy
U.S. President Donald Trump announced a comprehensive 'reciprocal tariff' policy, imposing a 10% baseline tariff on nearly every country. The plan imposes much steeper tariff rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam, and 32% on Taiwan. Economists and U.S. trade partners are raising questions about how the White House calculated the tariff rates it claims other countries 'charge' the U.S. Experts continue to debate the full potential effects. New U.S. tariffs on auto imports also took effect overnight, prompting Stellantis to pause production at its plants in Canada and Mexico. Trump now says he is open to negotiations, contradicting White House aides who insist the sweeping tariffs are not a bargaining tactic. European stocks closed the day 2.7% lower. CNBC's reporters covered the tariffs and their effects, live on air and online from our bureaus in Washington, London, Singapore, San Francisco, and Englewood Cliffs, New Jersey.