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WASHINGTON, April 2 (Reuters) – President Donald Trump said on Wednesday that he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country’s biggest trading partners.
The sweeping duties would erect new barriers around the world’s largest consumer economy with trading partners expected to respond with countermeasures of their own that could lead to dramatically higher prices for everything from bicycles to wine.
“It’s our declaration of independence,” Trump said at an event in the White House Rose Garden. Trump displayed a poster that listed reciprocal tariffs, including 34% on China and 20% on the European Union, as a response to duties put on U.S. goods.
The administration has said the new tariffs will take effect immediately after Trump announces them, though it has not yet published the official notice required for enforcement.
The administration, however, did publish an official notice that a separate set of tariffs on auto imports that Trump announced last week will take effect starting on April 3. Trump has already imposed 20% duties on all imports from China and 25% duties on steel and aluminum and extended them to nearly $150 billion worth of downstream products.
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