New tariffs snap into effect, raising import taxes to highest level since Great Depression
Trump's Tariffs Take Effect President Trump's comprehensive tariffs, imposing a baseline 10% duty on most imports, took effect after months of delays, increasing the average effective tariff rate to over 17%, the highest since 1935. The move, aimed at reshaping global trade, has raised concerns about inflation and economic stability, with households projected to face an average cost increase of $2,400 this year. Want More Context? 🔎
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