President Donald Trump’s sweeping new tariffs officially took hold Thursday, as he barrels forward with his turbulent push to reshape global trade.
After months of chaotic threats and reversals, higher rates for almost all US trading partners began just after midnight in New York. Trump signed the directive a week ago, but had to allow time for US Customs and Border Protection to make necessary changes to collect the levies.
Taken together, Trump’s actions will push the average US tariff rate to 15.2%, according to Bloomberg Economics estimates, well above 2.3% last year and the highest level since ...
