The U.S. officially began levying higher taxes on imports from dozens of countries Thursday, four months after President Donald Trump first announced plans to impose tariffs on most of the world while seeking new trade agreements across the board.
Starting just after midnight, the White House said, goods from more than 60 countries and the European Union would face tariff rates of 10% or higher. Products from the European Union, Japan and South Korea will be taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh will be taxed at 20%. Trump also expects places such as the EU, Japan and South Korea to invest hundreds of billions of dollars in the U.S.
