Trump imposes 10 percent baseline tariff and ‘reciprocal’ duties for dozens of countries

The U.S. will impose a 10 percent tariff on all trading partners as well as individualized, "reciprocal tariffs" for a slew of countries that treat the U.S. unfairly, President Trump announced on Wednesday. Trump declared a national emergency under the International Emergency Economic Powers Act, citing national security and economic concerns stemming from persistent annual U.S. goods deficits. IEEPA allows the president to regulate trade in case of a national emergency, a senior White House official told reporters on Wednesday,...