Greg Iacurci, CNBC
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President Donald Trump has cited a host of reasons to impose steep new tariffs on U.S. trading partners. Some of the justifications are at odds with each other, economists said.
Trump on Wednesday announced a new 10% tariff on all imports, plus additional levies for major exporters including China, India, Vietnam and the European Union.
The duties, when combined with others already announced earlier this year, push the average effective U.S. tariff rate from 2.3% in 2024 to about 24% — the highest in 125 years, according to a note Wednesday from...
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