Washington — President Trump officially began levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his months-long tariffs threats was beginning to create visible damage to the U.S. economy.

The White House said that starting just after midnight EDT, goods from more than 60 countries and the European Union began facing tariff rates of 10% or higher. Products from the European Union, Japan and South Korea are being taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are being taxed at 20%. Mr. Trump also expects places such as the EU, Japan and South Korea to invest hundreds of billions of dollars in the U.S.

He immediately took to his Truth Social platform to hail the levies, saying, "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE

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