The first part of President Donald Trump’s sweeping tariff agenda went into effect at 12:01 a.m. on April 5.
A 10 percent baseline universal tariff will apply to all imports, regardless of origin, up from the current average tariff rate of about 2.5 percent.
The White House’s measures will impact the $3 trillion in goods the United States imports annually.
Trump unveiled the details of his tariff plans during a “Make America Wealthy Again” event at the White House Rose Garden on April 2, vowing to undo decades of trade deficits and unfair practices in global commerce.
“For decades, our country has been looted, pillaged, and plundered by nations near and far, both friend and foe alike,” the president said in his speech before an audience of auto workers, craftsmen, farmers, steelworkers, and members of his Cabinet….