Trump states reciprocal tariffs taken effect with billions of dollars at stake
(MENAFN) President Donald Trump announced late Wednesday that reciprocal tariffs on more than 90 countries had taken effect at midnight, predicting billions of dollars in import duties for the US.
“RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, WILL START FLOWING INTO THE USA,” Trump wrote on social media, warning that only a “radical left court” could halt America’s progress.
His remarks alluded to ongoing legal challenges over his authority to impose the tariffs. Several companies and states have sued, claiming the policy causes economic harm, and have already won multiple court decisions — cases likely to reach the Supreme Court.
The tariffs have raised concerns about potential consumer price hikes, coming as Federal Reserve Chairman Jerome Powell remains cautious on further interest rate cuts amid significant economic uncertainty.
“RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, WILL START FLOWING INTO THE USA,” Trump wrote on social media, warning that only a “radical left court” could halt America’s progress.
His remarks alluded to ongoing legal challenges over his authority to impose the tariffs. Several companies and states have sued, claiming the policy causes economic harm, and have already won multiple court decisions — cases likely to reach the Supreme Court.
The tariffs have raised concerns about potential consumer price hikes, coming as Federal Reserve Chairman Jerome Powell remains cautious on further interest rate cuts amid significant economic uncertainty.
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