Trump Imposes 10% Tariff on UK, Higher Rates on EU, China

President Donald Trump announced a series of new tariffs aimed at reshaping U.S. trade policy, including a 10% tariff on UK goods and a 20% tariff on the European Union, during a speech he referred to as 'Liberation Day.' The tariffs, effective immediately, are part of Trump's effort to address what he describes as unfair trade practices by other countries, with China facing the highest rates at 34%. While the UK received a lower tariff than other regions, industry leaders expressed concern that even a 10% tariff could have devastating effects on British manufacturers and disrupt long-standing supply chains. Trump emphasized that these tariffs are designed to protect American jobs and stimulate domestic manufacturing, offering zero tariffs for companies that produce goods in the U.S. The announcement has drawn mixed reactions, with Democrats criticizing the potential for increased inflation and retaliatory measures from affected countries anticipated. British officials are currently exploring options to mitigate the impact of these tariffs and maintain trade relations with the U.S.