US EditionAnswering your questions about President Trump's vast new tariffs
- President Donald Trump announced new tariffs on imports, with rates ranging from 10% to 50%, fulfilling a campaign promise to raise U.S. Taxes on foreign goods.
- The formula for calculating tariffs was based on the U.S. Trade deficit with each country, according to the Trump administration.
- Lawrence Summers, former Treasury Secretary, criticized the Trump administration's tariff calculations, stating they are flawed.
- Economists expressed concerns that these tariffs could increase consumer prices and negatively impact profit margins for U.S. Companies.
14 Articles
14 Articles
The Athens Messenger
Answering your questions about President Trump's vast new tariffs
WASHINGTON — After weeks of anticipation and speculation, President Donald Trump followed through on his tariff threats this week by declaring a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run…
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Economists don’t share President Donald Trump’s enthusiasm for tariffs since they’re a tax on importers that usually get passed on to consumers. It’s possible, however, that the reciprocal tariffs could bring other countries to the table and get them to lower their own import taxes.
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