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Home World USA

New tariffs snap into effect, raising import taxes to highest level since Great Depression

6 August 2025
in USA
0
New tariffs snap into effect, raising import taxes to highest level since Great Depression
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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.

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Tags: DepressioneffectGreathighestimportlevelraisingsnapTariffsTaxes
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