Arab Finance: US President Donald Trump announced a 10% baseline tariff on most goods imported to the US, including Egypt, effective April 5^th, according to Reuters.

The global reciprocal tariffs decision was unveiled during an event at the White House on April 2^nd.

The new rates ranged from 10% to 49% on the first board and up to 50% on later boards.

"We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves."

He added: "Trade deficits are no longer merely an economic problem. They are a national emergency.”

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