Trump announces sweeping tariffs on imports, escalating global trade war

Trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices for everything from bicycles to wine.

President Donald Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, with much higher duties on products from dozens of countries, kicking into high gear a global trade war that threatens to drive up inflation and stall US and worldwide economic growth.