NEW YORK — U.S. President Donald Trump on Wednesday announced a round of sweeping tariffs of up to 49% on Asian countries, arguing the move will raise revenue and revitalize domestic manufacturing.
The new levies include a baseline tariff of 10% on all countries, that will go into effect April 5, along with duties the Trump administration describes as “reciprocal” measures for levies and nontariff barriers imposed on U.S. exports. These reciprocal rates are due to hit imports from 60 countries on April 9.
