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President Trump unveiled a universal import duty of 10% on all products, as well as reciprocal tariffs on imports from 90 nations.

First, here's a quick summary of the tariff situation. Trump proclaimed April 2 "Liberation Day," suggesting that his tariff announcements represented economic freedom for the U.S. In early March, Trump initially spoke of tariffs on imports from Canada, China, and Mexico, then said he would announce the complete plan a month later.