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President Trump on Wednesday announced the largest increase in tariffs in U.S. history, unveiling new import duties that he said would revive domestic manufacturing and amount to a national “Declaration of Economic Independence.”

Here’s what to know about how this may affect you:
How Trump’s trillions in new tariffs could affect America — and you
The president announced the biggest hike in import duties in modern U.S. history, raising the risks of a recession and stock market downturn.
www.washingtonpost.com
April 3, 2025 at 3:56 PM