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.