President Donald Trump’s wave of tariffs went into effect at 12:01 a.m. Wednesday as the vast majority of U.S. trading partners look to head off the barrier taxes with last-minute deals with the White House.
Trump’s “Liberation Day” announcement outlined a two-phased rollout of the new tariffs, which Trump has described as reciprocal. First, the 10% flat tariff on all trading partners was put into effect over the weekend, with a midnight deadline for “tailored” rates for 86 individual countries.
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