The baseline tariff came into place as stock markets plummeted after Donald Trump’s radical trade rules were announced on so-called «Liberation Day».
Donald Trump’s baseline tariff of 10% on products from all countries worldwide has taken effect.
The blanket tariff was announced by the US president on Wednesday evening, when his speech on so-called «Liberation Day» sent shockwaves across the global stock market as he unleashed sweeping taxes on imports.
Much higher tariffs against what Mr Trump branded as the «worst offenders», such as a 20% rate for the EU and a 34% one for China, are set for 9 April.
A 25% tariff imposed on all foreign cars imported into the US came into effect on Thursday.
The baseline tariff came into place as stock markets plummeted amid a trade war sparked by Mr Trump’s radical measures and China’s retaliatory tariffs of 34% on US imports from 10 April.
