Trump Raises Global Tariffs to 15%

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Trump Raises Global Tariffs to 15%

Donald Trump said he will raise global tariffs to 15% from 10%. The US Supreme Court struck down his reciprocal tariffs plan.

Reciprocal tariffs means charging different rates to different countries. Trump announced the new 15% tariff after the court's decision.

Asia-Pacific markets opened higher despite the tariff increase. The US dollar weakened in early Asia trading. Markets reacted to uncertainty about Trump's tariff policy.

Klear Note — Tariffs are taxes on goods from other countries. Higher tariffs make foreign products cost more in stores. Markets worry tariffs could slow global trade and economic growth.

Key Terms 2

reciprocal tariffs: charging different tax rates to different countries based on their trade practices
tariffs: taxes on goods imported from other countries

Verified Sources 2

CNBC

Bloomberg