Bloomberg: Trump To Announce Biggest Tariffs In 100 Years Today

They will affect $33 trillion in global trade.

Today, April 2, President Donald Trump is set to announce the biggest U.S. trade restrictions in a century, Bloomberg correspondents report.

Countries with large trade surpluses with the U.S. — from the EU and Japan to China and Brazil — could lose between 4% and 90% of their exports to the U.S.

The average U.S. tariff on all countries is likely to increase by 15 percentage points this year, according to economists at Goldman Sachs Group Inc., which they say will boost core inflation, weaken economic growth and increase the risk of recession.

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