Part 2/8:
On Thursday, the Trump administration announced that it would implement a universal tariff rate of 10% for countries with which the U.S. has a trade surplus or exports more than it imports. For nations with which the U.S. has a trade deficit, the minimum tariff rate is set at 15%, with some nations facing even higher tariffs. This shift signifies a more aggressive stance on trade, aimed at protecting American jobs while encouraging domestic investment.
The White House asserted that the new tariffs and trade initiatives are designed to bolster the American economy. Officials claimed that recent trade deals have unlocked "enormous new potential" for economic growth and that uncertainties surrounding tariffs are diminishing as rates settle into their new levels.