US households paid $1,000 more for the same goods over the past year, with lower-income families hit the hardest.
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One year ago today, during a Rose Garden ceremony at the White House in Washington, US President Donald Trump announced a new 10 percent global tariff as part of a sweeping executive order he dubbed “Liberation Day”.
The immediate fallout from his announcement was severe, with the stock market suffering its worst drop since the pandemic. In the following days, countries scrambled to make deals with Washington or retaliate with their own levies.
