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T he U.S. and Japan have reached a trade agreement under which the longtime U.S. will face a 15% tariff—down from a previously threatened 25%—President Donald Trump announced on Tuesday, as Japan’s Prime Minister hailed the move as a “new golden era” in the relationship between the two countries.
President Trump has “leveraged American bargaining power” with three Asian nations this week — and given himself momentum ahead of the looming Aug. 1 deadline for most “reciprocal tariffs,” experts predict.
13hon MSN
Trump Seeks Even Higher Tariffs: 'Between 15 Percent and 50 Percent' on Imports From All Countries
President Donald Trump said on Wednesday that "we'll have a straight, simple tariff of anywhere between 15% and 50%." Hiking the baseline reciprocal tariff rate to 15 percent means a 50 percent higher tax on American manufacturers and consumers than Trump originally promised.
With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.