Trump Announces 10% Baseline Tariffs, Threatens Higher Rates

Washington D.C. - Former President Donald Trump unveiled a new trade policy on Wednesday, imposing a baseline tariff of 10% on all imported goods entering the United States. In a press conference, Trump referred to the day as "Liberation Day," signaling a shift towards what he described as fairer trade practices.

"We've been taken advantage of for too long," Trump stated. "These tariffs will level the playing field and protect American businesses and workers."

The new tariffs will apply to a wide range of goods, with exceptions potentially made on a case-by-case basis. Trump also warned that countries considered to be engaging in unfair trade practices, labeled as "worst offenders," could face significantly higher tariff rates.

The announcement has already drawn criticism from some economists and trade organizations, who argue that tariffs could lead to increased costs for consumers and retaliatory measures from other countries. Supporters, however, contend that the tariffs will encourage domestic production and create jobs within the United States.

The long-term effects of these tariffs remain to be seen, but they are expected to have a significant impact on global trade relations.