Panel: How will Trump's tariffs reshape the US and global economies?

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  Daily news and analysis.

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  We keep you informed and inspired.

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  This is World Today.

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  Hello and welcome to World Today.

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  I'm Zhao Ying.

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  U.S. president Donald Trump has announced sweeping new tariffs against trade partners.

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  The plan sets a baseline tariff of 10% on oil imports,

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  with significantly higher rate, in some cases,

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  34% for China, 20, 20% for the EU 24% for Japan, and 46% for Vietnam.

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  The tariffs will apply to about 60 countries,

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  marking the biggest shake up of global trade norms since World War II.

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  Trump said the move is in response to what he called unfair trade practices like tariffs and other trade barriers.

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  He declared a national economic emergency to justify the new tariffs.

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  He argued that punitive steps could bring industry and jobs back to the United States.

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  Treasury Secretary Scott Benson warned other countries not to pit back.

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  However, several nations have said they would retaliate.

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  Can these tariffs really deliver the economic boost Trump promises,

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  or will they end up hurting American businesses and consumers?

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  Could this lead to a global trade war?

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  And could this mark a turning point in the US Role in the global economy?

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