Posted: Saturday, April 5, 2025. 9:59 am CST.
By Zoila Palma: Today, the U.S. started enforcing President Donald Trump’s 10% tariff on imports from many countries, marking a major shift in global trade.
According to Reuters, the tariff targets 57 larger trading partners, with higher levies due next week, including 20% on European Union goods and 34% on China.
The move has drawn sharp global reactions, with China imposing countermeasures, including a 34% tariff on U.S. goods.
Trump’s tariff announcement caused a $5 trillion loss in stock market value for S&P 500 companies, while oil and commodities prices plunged. A 51-day grace period was provided for cargo already in transit to the U.S.
Exemptions from the tariffs include crude oil, pharmaceuticals, and semiconductors, though the Trump administration is investigating some sectors for additional national security tariffs. Canada and Mexico remain exempt due to their ongoing trade agreements with the U.S.
Global leaders, including from Israel, Japan, and Vietnam, are moving to negotiate deals to avoid further economic disruption, while others consider retaliation.
Trump remains defiant, claiming “economic revolution” and predicting a historic victory despite the market turmoil.
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The post International News: U.S. begins collecting Trump’s 10% Tariff, stirring Global Trade shock appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Saturday, April 5, 2025. 9:59 am CST. By Zoila Palma: Today, the U.S. started enforcing President Donald Trump’s 10% tariff on imports from many countries, marking
The post International News: U.S. begins collecting Trump’s 10% Tariff, stirring Global Trade shock appeared first on Belize News and Opinion on www.breakingbelizenews.com.
