President Trump announced a baseline 10% tariff on U.S. imports, with steeper reciprocal levies on goods from a slew of other nations, including Europe, Japan and China.
Why it matters: Trump’s announcement ends the free-trade era that has defined global commerce for decades — a move that risks higher consumer prices and economic damage.
What they’re saying: “This is one of the most important days in my opinion, in American history,” Trump said in remarks delivered at a “Liberation Day” event in the Rose Garden.
- “We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers,” Trump added.
- Stocks, which rose a bit as Trump started speaking, reversed sharply….read more.
