US has highest trade deficit in the world. Who has highest trade surplus? Here's what trade imbalance and reciprocal tariffs mean and why it matters

President Donald Trump introduced his “discounted reciprocal tariffs” on over 200 countries on April 2. Most countries receive a base tariff rate of 10%, but for countries receiving more, the rates were calculated by halving a rate he displayed as “tariffs charged to the U.S.A. including currency manipulation and trade barriers.”

Where does the money collected from tariffs go? How soon will prices rise for consumers? What tariffs are other countries charging on U.S. goods?

President Donald Trump unveiled sweeping 10% tariffs on all imports to the United States Wednesday, but about 60 countries or trading blocs will see even higher rates in an escalating move that is poised to initiate a global trade war.

Switzerland’s tariffs could be much lower. Bermuda’s could be way higher. And Australia could have no tariffs at all.

In a background call before Trump's speech, a senior White House official told reporters that the president would impose a "baseline" tariff on all imports to the US. That rate is set at 10% and will go into effect on 5 April.

Analysts described President Trump’s latest slate of tariffs Wednesday as “worse than the worst case scenario” for tech investors.  Trump announced a sweeping 10 percent tariff on goods from all

China announced that it will impose reciprocal tariffs on all United States imports. Who pays these taxes? Will it affect you?