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Key takeaways from Trump’s ‘Liberation Day’ tariffs

  • President Donald Trump announced a new universal tariff on all imports to reshape the global economy and correct perceived economic wrongs against the United States.
  • Trump's latest tariffs mark the most significant escalation in U.S. Tariffs since the Smoot-Hawley Act of 1930.
  • Foreign countries, including long-standing U.S. Allies, have indicated that they will respond to Trump's tariffs, risking a global trade war.
  • Trump mentioned that the U.S. Bought $3 billion of Australian beef last year, but Australia would not accept U.S. Beef imports.
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Foreign Policy broke the news in United States on Wednesday, April 2, 2025.
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