from al Mayadeen English
US President Donald Trump has fanned the flames of the global trade war by imposing a base 10% tariff on all US imports and reciprocal tariffs on Wednesday, which he dubbed "Liberation Day".
The White House unveiled sweeping new tariffs, sparking immediate upheaval in global markets as leaders around the world denounced the measures and vowed to retaliate against the levies.
The base 10% tariff goes into effect on April 5, and the higher reciprocal levies on April 9.
Facing newly imposed 54% tariffs on exports to the US, China pledged to retaliate with countermeasures, while the European Union also threatened to respond, as both allies and rivals of Washington united in condemning the move, fearing it could deliver a crippling shock to global trade.
"The consequences will be dire for millions of people around the globe," EU Chief Ursula von der Leyen said in a statement, adding that the European Union is planning on retaliating to the levies imposed by Trump should talks with the US falter. The European Union was hit with a 20% reciprocal tariff...
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