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Trump administration to unveil latest stage of aggressive trade policy
The Guardian • • nation
Key Points:
- The Trump administration plans to announce the next phase of its trade policy, potentially introducing new tariffs, as current 10% tariffs are set to expire on Friday.
- The US Supreme Court ruled many of Trump's previous tariffs illegal in February, leading to a replacement tariff regime that is now ending.
- White House press secretary Karoline Leavitt indicated that US Trade Representative Jamieson Greer will provide details on the policy update later on Thursday.
- Trump and his team argue that the tariffs support US industrial regions and job growth, while critics warn they could raise prices across the country amid already high inflation.
- In a Senate exchange, Greer denied that tariffs increased consumer prices, citing a drop in core inflation to 2.6% year-on-year, despite overall inflation remaining slightly higher than at the end of the Biden administration.
