Trump’s higher tariffs take effect on imports from dozens of countries
Summary
President Donald Trump has put higher tariffs in place on imports from more than 60 countries. These tariffs, which range from 10 to 50 percent depending on the country, began being collected by the US Customs and Border Protection from Thursday. The tariffs are meant as a response to what the US sees as unfair trade practices, but some worry they will lead to higher prices and fewer product choices in the US.Key Facts
- The US has started collecting higher tariffs on imports from over 60 countries.
- New tariffs began at 00:01 EDT on Thursday and range from 10 to 50 percent.
- Tariffs on goods from Brazil are now at 50 percent, and those from the UK are at 10 percent.
- President Trump claims the tariffs will bring in billions in revenue for the US.
- There are concerns that these tariffs could cause inflation and impact long-term economic growth.
- The US coffee industry might be affected as it heavily relies on Brazilian imports.
- Some countries have reached lower tariff deals with the US, like the UK and the EU.
- A 100 percent tariff will be imposed on foreign-made semiconductors, with exceptions for US-investing companies.
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