'Worst offenders' around world face tariffs of up to 50%

President Donald Trump has announced new import taxes on all goods entering the US, setting a baseline tariff of 10% on all imports. Around 60 trade partners, including the EU and China, will face higher rates due to unfair trade policies. Trump declared a national emergency, stating the US has been taken advantage of for decades. The tariffs will lead to higher prices for Americans and slower growth, with potential global recession. Other countries are cautioned against retaliation. The US stock market closed before the announcement, leading to lower stock indices in Asia-Pacific. Trump’s measures are seen as a retaliation for high trade imbalances by other countries.

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