Trump signs plan for new tariffs on all US trading partners
Published:Thursday | February 13, 2025 | 4:52 PM
Taxes on imports could soon go up, as President Donald Trump signed a measure to have tariff rates match what other countries charge.
“We had a very unfair system to us,” Trump said in the Oval Office.
“Everybody took advantage of the United States.”
Higher tariffs under current law would be paid by Americans, either directly or in the form of higher prices.
The White House has treated these tariffs as a tool to negotiate new trade deals and raise government revenues. If other countries retaliate and the tariffs stay in place, most economists say growth would suffer and inflationary pressures would intensify.
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