Trump announces sweeping global tariffs, risking a trade war and inflation

US President Donald Trump announced plans for sweeping tariffs Wednesday, saying “our country has been looted, pillaged, raped, plundered” by other nations. The aggressive rhetoric came as Trump showed a willingness to dismantle a global economic system that the United States helped to build after World War II. Trump said the US would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan.