President Trump announced new reciprocal tariffs on various countries, with a 10% baseline tariff set to take effect on April 5. Specific countries, considered “worst offenders,” will face custom tariffs tailored to their trade practices, including the European Union (20%), China (34%), and Vietnam (46%). Canada and Mexico were not included in the new tariffs, with the US opting to address trade issues with these countries separately, while a 25% tariff on all foreign-made automobiles will be implemented immediately.
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