CNN —
President Donald Trump unveiled sweeping 10% tariffs on all imports to the United States Wednesday. About 60 countries or trading blocs will see even higher rates in an escalating move that is poised to initiate a global trade war.
Many major US trading partners will be hit hard by Trump’s so-called reciprocal tariffs.
China is levied with a 34% rate, which is additional to the existing 20% duties on all Chinese imports to the United States, while the European Union gets 20%.
China and the EU accounted for around a
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