Tariff war: How US decides who pays more; Trump spells out the 'formula'
President Trump defended his administration's new import tariffs, citing common sense, trade deficits, and historical treatment by other countries. He announced tariffs ranging from 20 to 50 percent on several countries, including Brazil, the Philippines and others. These tariffs, part of Trump's crackdown on "non-reciprocal" trade practices, will take effect on August 1, 2025.
President Trump defended his administration's new import tariffs, citing common sense, trade deficits, and historical treatment by other countries. He announced tariffs ranging from 20 to 50 percent on several countries, including Brazil, the Philippines and others. These tariffs, part of Trump's crackdown on "non-reciprocal" trade practices, will take effect on August 1, 2025.
