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Trump's Tariffs Start at 10%, Not 15%
Trump put new tariffs into effect today at 10 percent. He had announced 15 percent on Saturday.
A court had struck down his old tariffs. The lower rate surprised business leaders and foreign governments.
British businesses said 10 percent was better than 15 percent. The tariffs apply to goods from other countries.
Klear Note — Tariffs are taxes on goods from other countries. Higher tariffs make foreign products cost more in stores.
Key Terms 1
- tariffs
- taxes added to goods bought from other countries