April's "Liberation Day" was about President Trump trying to impose a new global trade system. Thursday's tariff orders were effectively a reset to create a somewhat more practical regime. Why it matters: Trump scrapped most of the highest levies,

So, the White House said in an announcement on Thursday (31 July) that the 'universal' tariff for goods coming into the US will stay at 10 percent, the same level that was implemented on 2 April. But that rate will only apply to nations with which the US has a trade surplus.

For months, today’s date was circled on calendars in national capitals throughout the world as the deadline when President Donald Trump’s threat of major new tariffs would be enacted. Then, in an executive order last night,

Tariffs are now, to be sure, higher than they've been in a century or more. That's already starting to show up in inflation data, and economists expect to see mor

Trump’s sweeping package of tariffs, released on so-called "Liberation Day", targeted nearly every corner of the globe. Now, after months of pauses and delays, it’s finally set to come into force. Vie