#globaltariffs

[my-asianewstoday-blog]

ART: MITI Minister to contact US counterpart – Fahmi http://dlvr.it/TRBhLy

[insightdaily]

Here’s what could soon cost you a lot more because of Trump’s massive tariffs

On Wednesday, President Donald Trump ignited a full-scale U.S. trade war with nearly every country, announcing a sweeping set of tariffs set to take effect almost immediately. American families and businesses are bracing for the financial fallout.

This time, it’s no longer about what might get pricier—everything will. Trump’s new tariff strategy imposes a baseline 10% tax on imports from nearly all countries, sparing only select goods from Mexico and Canada. Sixty nations labeled as the worst trade offenders will face significantly higher rates.

China tops the list, with a crushing 54% tariff on most of its exports to the U.S. starting April 9. And if Trump makes good on his vow to penalize countries that purchase Venezuelan oil, including China, that rate jumps to 79%.

Even low-cost e-commerce will feel the sting. Beginning May 2, packages under $800 from China and Hong Kong—like those from Shein, Temu, and AliExpress—will also be hit with the 54% tariff.

According to the nonpartisan Tax Foundation, the average U.S. household could face an additional $2,100 in annual costs as a result.