By Michael Hernandez
WASHINGTON (AA) - US President Donald Trump signed an executive order Wednesday delivering on his long-promised vow to impose reciprocal tariffs on nations worldwide in a move that has sent markets sharply lower for months.
A minimum baseline tariff of 10% will be imposed on all countries, with higher sums charged on nations that Trump has deemed to be the "worst" trade offenders. The president said his new economic effort seeks to "help build our economy and to prevent cheating."
"This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence," he said in remarks delivered from the Rose Garden.
"We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers," he added.