#TrumpTariffs Trump announces new tariffs on what he calls "Liberation Day" amid fears of higher prices

President Trump on Wednesday announced the U.S. will impose a minimum baseline of 10% tariffs on goods imported from all foreign countries, as well as higher, "reciprocal" tariffs on nations that impose tariffs on U.S. exports, despite warnings from economists over increased prices.

The president, who signed an executive order to impose the tariffs, insisted the days of the U.S. being taken advantage of are "over." The reciprocal tariffs, Mr. Trump said, will amount to roughly half the tariff rate those countries impose on U.S. exports, or less. Countries that will see tariffs higher than 10% include the European Union, China and Israel.