The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

President Donald Trump is scheduled to announce significant tariffs on other countries in a speech Wednesday afternoon at the White House.

President Trump is set to reveal his tariff plans as part of a "Liberation Day" ceremony at the White House. Uncertainty over tariffs has roiled financial markets in recent weeks.

President Donald Trump is placing steep new tariffs on virtually all U.S. trading partners, stoking fears of rising prices for consumers and deepening trade wars. The tariffs hit allies and rivals alike.

Trump imposed the steepest US tariffs in more than a century, stepping up his campaign to reshape global trade.

US President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish. These new import taxes, which Trump imposed via executive order,

The Dow Jones Industrial Average dropped more than 1,600 points on Thursday as U.S. stocks led a worldwide selloff after the Republican president's announcement of tariffs against much of the world ignited a shock like none seen since the COVID-19 pandemic.

Stocks dived on Thursday and investors scrambled for the safety of bonds, gold and the yen, fearing new U.S. tariffs have intensified a trade war threatening to tip the world into recession.

President Donald Trump on Wednesday announced that his administration will be imposing additional tariffs on all foreign-made cars and imports. He says even higher tariffs will be placed on the EU, China,