Brief by Shorts91NewsDesk / 05:46am on 05 Apr 2025,Saturday Business
On April 5, 2025, the United States officially began collecting a sweeping 10% "baseline" tariff on nearly all imported goods, a key part of former President Donald Trump’s revived trade agenda. The policy dismantles decades of global trade norms and introduces retaliatory "reciprocal" tariffs—up to 50%—on 57 countries, including 20% on EU goods and 34% on Chinese imports, starting next week. Global markets reacted sharply, losing $5 trillion in S&P 500 value. While Canada and Mexico are exempt, other nations face a 51-day grace period for goods in transit and limited product exemptions. (PC: The Hindu Business Line)
