Trump Imposes New Tariffs, Shifts Global Trade
Reading
Donald Trump signed an order on Thursday. It puts new taxes on goods from many countries. The new rules will start on August 7 and affect the global economy.
The order was made after many announcements. These announcements were about deals with other countries. The taxes will start later so the rates can be organized well.
Some countries will have lower taxes than first planned. Lesotho will have a 15% tax, not 50%. Taiwan will have 20% taxes, and Switzerland will have 39% taxes.
Trump talked to Mexico's president about trade. They will talk for 90 days to make a deal. The current taxes of 25% will stay for now.
Trump wants to put taxes on imports. Experts say this will cost American buyers more money. Trump said they made good deals for the country, but did not give details.
Questions
What did Donald Trump sign on Thursday?
He signed an order that puts new taxes on goods from many countries.
When will the new rules start?
The new rules will start on August 7.
Which country will have a 15% tax?
Lesotho will have a 15% tax.
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