Suffering from a case of tariff whiplash? Here’s what you need to know [Video]

The Trump administration announced a new suite of trade measures on dozens of countries Wednesday. And if the new rules have your head swimming, you’re not alone.

In short, Canada was spared the worst of it, but the current measures will still have massive implications for this country and the rest of the world. 

Here are answers to some frequently asked tariff questions.

OK, so what happened yesterday?

U.S. President Donald Trump announced sweeping new tariffs on most of the world in front of a crowd gathered at the White House’s Rose Garden, for a day he’d been calling “Liberation Day” in the lead-up to the event.

The president said he would apply “a minimum baseline tariff of 10 per cent” on all goods coming into the U.S., which will go into effect on April 5. For countries that he says rip off the U.S. the most, that number climbs. Those “worst offender” tariffs come into play on April 9.

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