WASHINGTON/NEW YORK -- U.S. President Donald Trump on Wednesday announced the most sweeping tariffs of his administration so far, including levies that exceed 30% on Asian economies such as China, Taiwan, Vietnam and Thailand.
The tariffs will be two-tiered. First, there will be a 10% baseline tariff on all countries. A higher reciprocal tariff will be charged on roughly 60 countries -- those with which the U.S. has the largest trade deficits.
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