US President Donald Trump is announcing a wave of new tariffs at an event at the White House, on what he has dubbed “Liberation Day”
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Trump unveils a 10% tariff on UK goods and 20% on EU goods in watershed moment for global trade
Trump says he will start a “golden age” for America and says it’s time for the US to “prosper”
The president hits out at major trade partners Canada and Mexico, saying their trade practices are “not fair”
Trump also announces the 25% tariff on all foreign-made vehicles will begin from midnight local time
Tariffs are a tax on goods imported from abroad
Trump says tariffs will address “unfair” trade with other countries – a view shared by some US industries – but analysts warn tariffs could push up global price
