Some of the tariffs announced by President Trump earlier this week took effect Saturday, with the U.S. now collecting a 10% duty on virtually all imported goods. Additional tariffs targeting dozens of countries with trade deficits will begin April 9.
The “reciprocal” tariffs focus on countries that sell more goods to the United States than they purchase, according to the administration. However, some vessels already en route before the announcement will be exempt, per a Customs and Border Protection bulletin.
Trump has framed the tariffs as a tool to reignite domestic manufacturing. Since 1990, the U.S. labor force has grown by 45 million workers, while manufacturing jobs have declined from nearly 18 million to under 13 million by early 2025.
Investors have responded with concern. The Dow Jones Industrial Average fell nearly 4,000 points over Thursday and Friday, marking the worst two-day market decline in years. Companies with overseas supply chains—like Nike, Apple, Dollar Tree, and Five Below—saw significant losses. Economists warn the costs are likely to be passed on to consumers.
Source(s)
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
