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Trump's sweeping new tariffs in effect, including 104% on China

  • President Donald Trump's unprecedented tariffs on global imports took effect, causing a cumulative 104% tariff on Chinese goods and reshaping the global economic order.
  • Canada announced a 25% tariff on U.S.-made automobiles in response to Trump's tariffs.
  • Analysts at Wells Fargo predicted that Trump's tariffs would lead to a rise in unemployment to about 5%.
  • Economists warned that prolonged tariffs may cause a recession if they remain in place.
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China, EU retaliate as Trump trade tariffs kick in

China and the European Union announced new trade barriers on U.S. goods on Wednesday in response to steep duties imposed by President Donald Trump, escalating a global trade war that has hammered markets and raised the likelihood of recession.

·Salt Lake City, United States
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Finance Magnates | Financial and business news broke the news in on Tuesday, April 8, 2025.
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