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 Donald Trump’s promised tariffs are a day away – and they’ll go into effect sooner than some had expected. As in, immediately, the White House said Tuesday. Although many details remain unknown,

Tariffs are taxes charged on goods imported from other countries. Companies bringing the goods into the country pay the amount, typically a percentage of the goods' value, to the government. Trump has announced a 10% "baseline" tariff on all imports to the US – this is what the UK will face.

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

U.S. President Donald Trump signed an executive order on Wednesday that closes a trade loophole known as de minimis that has allowed low-value packages from China and Hong Kong to enter the United States free of duties.

Sweeping new tariffs announced by President Donald Trump have provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer

World leaders are reacting with dismay, threats of countermeasures and calls for swift negotiations to make trade rules fairer in response to the sweeping new tariffs announced by U.S. President Donald Trump.

Canada will fight U.S. President Donald Trump's tariffs with countermeasures, Prime Minister Mark Carney said on Wednesday.