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Trump Raises Global Tariffs to 15%
US President Donald Trump raised global tariffs to 15%. The US Supreme Court blocked his emergency tariffs.
Trump then raised tariffs to 15%. Trade representative Jamieson Greer said on Sunday the US will keep existing tariff deals.
These deals include agreements with the UK, the European Union, Japan, and Switzerland. The European Commission says the United States must honor its tariff deal with the European Union. Senior US officials said the Supreme Court ruling won't break trade deals with US partners.
Klear Note — Tariffs are taxes on goods imported from other countries. Higher tariffs make foreign products cost more in US stores.
Key Terms 3
- tariffs
- taxes added to the cost of goods bought from other countries
- European Commission
- the main executive body that runs the European Union
- trade deals
- agreements between countries about buying and selling goods