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Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder trial. He is a graduate of the University of North Carolina-Wilmington. You can get in touch with Gabe by emailing [email protected]. Find him on Twitter @GabeWhisnant.
Gabe Whisnant
Breaking News Editor
news article Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
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President Donald Trump on Wednesday announced a sweeping new trade policy that includes a 10 percent baseline tariff on all imports and significantly higher rates on goods from countries running trade surpluses with the U.S., a move that could dramatically reshape the global economic order and risk igniting international trade conflicts.Speaking from the White House, Trump displayed a chart outlining specific tariff increases: 34 percent on Chinese imports, 20 percent on goods from the European Union, 25 percent on South Korean products, 24 percent on Japanese imports, and 32 percent on goods from Taiwan. He described the global trade system—largely built by the U.S. after World War II—as deeply unfair, stating, “our country has been looted, pillaged, raped, plundered” by foreign nations.Invoking the 1977 International Emergency Economic Powers Act, Trump declared a national economic emergency to unilaterally implement the tariffs, which his administration estimates could generate hundreds of billions of dollars annually. He argued the policy would restore American manufacturing jobs, though economists warn it may lead to higher consumer prices on everyday goods like cars and clothing.”This has gone on for over 50 years,” Trump said. “Taxpayers have been ripped off. But it is not going to happen anymore.”The tariffs, which he described as “reciprocal,” fulfill a key campaign pledge and are aimed at pressuring trade partners to lower their own barriers. The administration expects the new rates to remain in place until the U.S. narrows a $1.2 trillion trade imbalance recorded last year.
President Donald Trump on Wednesday announced a sweeping new trade policy that includes a 10 percent baseline tariff on all imports and significantly higher rates on goods from countries running trade surpluses with the U.S.,…
President Donald Trump on Wednesday announced a sweeping new trade policy that includes a 10 percent baseline tariff on all imports and significantly higher rates on goods from countries running trade surpluses with the U.S., a move that could dramatically reshape the global economic order and risk igniting international trade conflicts.
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