This was shown in a table presented by Trump during an eagerly awaited speech in the White House Rose Garden.
According to Trump, imports from the European Union will be subject to a 20% surcharge, while those from China will even be subject to a 34% tariff. Trump imposed 10% as the “minimum rate” for other countries.
Trump accused even close trading partners of having “plundered and raped” the US with their tariff policy. Following his speech, the President said he would sign a decree in favour of the so-called reciprocal tariffs.
The motto of the speech was “Make America Wealthy Again”. The US dollar fell against the euro during his speech.
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Safe harbour Swiss franc rises amid tariff uncertainty
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US tariff policy uncertainty is creating demand for safe haven assets such as the Swiss franc or the Japanese yen.
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