Business

Clock ticks down to Trump's 24% tariffs on Japan

Tariffs take time to actually affect prices and trade flows, but financial markets are already responding to the possibility of severe economic dislocation.

U.S. President Donald Trump is making good on his promise to implement a broad and brutal tariff program, allowing new levies on almost all goods entering the United States to go into effect as scheduled on Wednesday, with Japan being one of hardest hit.

Hopes for an 11th-hour backpedal by a president known for such last-minute maneuvers faded as the White House dug in the day before and made no hint of a reconsideration. “The error of American economic surrender is over,” White House press secretary Karoline Leavitt said of the tariffs at a Tuesday news briefing. “It’s America First all the way.

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