The most far-reaching version of Trump’s strategy would raise the effective, or average, tariff on U.S. imports to about 20%, comparable to the heavy import duties the nation imposed in the 1930s and that contributed to the Great Depression,

WASHINGTON (AP) — President Donald Trump declared on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States, threatening to upend much of the architecture of the global economy and trigger broader trade wars.