💨 Abstract

President Donald Trump announced plans to impose over 10% tariffs on goods from more than 100 smaller countries, primarily in Africa and the Caribbean. The move, while impacting these regions, is seen as having limited effect on major U.S. trade imbalances. Additionally, Trump will impose tariffs on pharmaceutical drugs and computer chips at the end of the month. Companies will get a year to establish domestic factories before facing higher import taxes.

Courtesy: WTOP Staff