"Emancipation Day": Donald Trump announces new duties

US President Donald Trump announced new duties for trading partners, while Bitcoin has fallen below $85000.

President Donald Trump's administration has begun imposing new duties on trading partners, beginning April 5 with a 10% minimum for all countries.

The administration also announced "reciprocal tariffs" at about half the rate that countries impose on U.S. goods, which will go into effect on April 9.

These measures are part of an effort to reduce the trade deficit and create a more level playing field for American businesses.

The move comes as no surprise, given Trump's campaign promises to renegotiate trade deals and put America first.

However, the tariffs could have a negative impact on consumers and businesses, who will pay more for goods from affected countries.

The administration has said that it will use the revenue from the tariffs to reduce the federal deficit.

The new duties will be imposed on a wide range of products, including food, clothing, and electronics.

The rates vary by country, with the highest being 54% for China and the lowest being 20% for the EU.

The move is likely to further escalate trade tensions between the U.S. and its trading partners.

Some countries have already threatened to retaliate with tariffs of their own.

The administration has said that it is open to discussing trade issues with other countries.

However, it has also shown a willingness to act unilaterally when necessary.

The Trump administration has made trade a central part of its agenda since taking office in 2017.

The administration has withdrawn the U.S. from several trade agreements, including the Trans-Pacific Partnership.

It has also imposed tariffs on goods from China, Canada, Mexico, and the EU.

The administration's trade policies have been met with mixed reactions.

Some economists have praised the administration for its efforts to reduce the trade deficit and create jobs.

However, other economists have warned that the tariffs could harm consumers and businesses.

Only time will tell what the long-term impact of the Trump administration's trade policies will be.

The Biden administration has continued some of Trump's trade policies, such as the tariffs on solar panels and steel. However, the administration has also tried to cooperate with other countries on issues like climate change and cybersecurity.

The U.S. is a member of several important trade organizations, such as the World Trade Organization (WTO) and the North American Free Trade Agreement (NAFTA).

The administration's trade policies have implications for the U.S. economy, its relations with other countries, and the global trading system.