💨 Abstract
President Donald Trump imposed new global tariffs, reversing decades of U.S. trade policy. Effective August 7, a 10% tariff will apply to countries with which the U.S. has a trade surplus, while a 15% tariff will apply to those with a deficit. Over 40 countries will face the 15% tariff, with some facing higher rates due to specific agreements or deficits.
Courtesy: WTOP Staff
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