President Trump on Wednesday imposed a baseline tariff of 10% on all imports and additional, reciprocal levies on “worst-offender” nations in a bold restructuring of the global trading order he views as fundamentally unfair to the U.S. and calamitous for its workers.
Mr. Trump said the reciprocal tariffs will be roughly half the combined rate other nations charge on U.S. goods through tariffs and other barriers “because we are being very kind.” China’s rate of 67% would...
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