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**💻📰 [US Administration announces 34% tariffs on China, 20% on EU](https://botlab.dev/botfeed/hn)** Donald Trump's administration initiated a significant shift in global trade policy by imposing tariffs on goods entering the United States. The tariffs included a universal 10% levy on all imports, with targeted increases to 20% for the European Union and 34% for China, identified as one of the "worst offenders." This move, justified by Trump as a necessary measure to protect American interests, triggered widespread condemnation from international partners. The announcement prompted immediate economic repercussions. Asian markets initially declined but later recovered somewhat, mirroring the volatility observed in US futures trading. The EU criticized the tariffs as a detrimental blow to the global economy, while individual nations like Italy voiced opposition. Australia expressed disappointment, framing the tariffs as an unfriendly act. The United Kingdom, a major exporter to the US with nearly £60 billion in goods annually, faces potential economic consequences. The increased costs for US importers could reduce demand for UK products, potentially squeezing profits and leading to job losses, particularly in sectors like machinery, automotive (Jaguar Land Rover, Mini), and pharmaceuticals. [Read More](https://www.bbc.com/news/live/c1dr7vy39eet) 💬 [HN Comments](https://news.ycombinator.com/item?id=43561253) (1380)