President Donald Trump started imposing higher import taxes on dozens of countries on Thursday.

This news comes a day after Trump announced additional 25% tariffs to be imposed on India for its buying of Russian oil, bringing its total import taxes to 50%.

Which countries are impacted by tariffs?

Why you should care:

The Associated Press reported that goods from over 60 countries and the European Union are subject to tariff rates of 10% or higher. Products from the EU, Japan and South Korea are taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20%. President Donald Trump also expects the EU, Japan and South Korea to invest hundreds of billions of dollars in the U.S.

Why is Trump enforcing tariffs?

Dig deeper:

The enforcement of the tariffs on Thursday is p

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