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President Trump surprised markets again on Wednesday, announcing steep reciprocal tariffs on a range of trading partners in addition to a "baseline" reciprocal tariff rate of 10% in a move that sent markets tumbling.
"The tariffs were definitely worse than we had anticipated," Deutsche Bank senior US economist Brett Ryan told Yahoo Finance.
For example, Chinese imports are set to be hit by a 34% tariff while imports from the European Union will be dealt 20% tariffs. Trump said the tariff calcu...
>>> Read more: 'Worse than expected': Wall Street reacts to Trump's 'Liberation Day' tariff surprise, stocks sink
"The tariffs were definitely worse than we had anticipated," Deutsche Bank senior US economist Brett Ryan told Yahoo Finance.
For example, Chinese imports are set to be hit by a 34% tariff while imports from the European Union will be dealt 20% tariffs. Trump said the tariff calcu...
>>> Read more: 'Worse than expected': Wall Street reacts to Trump's 'Liberation Day' tariff surprise, stocks sink
