On April 10, President Donald Trump announced a significant increase in tariffs on Chinese imports, raising them to 125%, and implemented a 90-day suspension of his reciprocal tariff plans for all countries except China.
China will levy a tariff of 84% on all imports originating in the US on top of the current applicable tariff rate starting from April 10 at 12:01 pm.
European Union plans to introduce 25% tariffs on a wide range of goods, with the first duties scheduled to be collected starting April 15.
Canada has started imposing a 25% tariff on certain vehicle imports from the US, retaliating against a similar measure from its neighbor.
After a meeting in Malaysia on April 10, economic ministers from the ASEAN grouping issued a unified statement declaring that they would not retaliate against US tariffs in any manner.
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