Trump Imposes Sweeping Tariffs
US President Donald Trump's latest round of sweeping tariffs took effect shortly after midnight on Wednesday, impacting major trading partners including China and the European Union. The measures aim to restore America's manufacturing base but will affect over $2 trillion in imports, pushing the US effective tariff rate to its highest in over a century. Consumer goods in the US could see significant price hikes, with clothing estimated to rise by 33%. While the White House has hinted at possible trade talks, Trump remains resistant to exemptions. China has vowed not to back down, warning of firm responses to 'bullying' tactics. US businesses with ties to China face uncertainty, with some halting shipments. Economists predict the tariffs could cost the US 600,000 jobs and reduce household purchasing power.