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In a Truth Social post on Saturday, Trump said the U.S. would impose an additional 10% tariff on eight countries, including the United Kingdom, starting on February 1. Afterward, the rate will rise to 25% on June 1. The tariffs will remain in place until the U.S. secures a deal to acquire Greenland.
Monday night marked the first full chance for U.S. investors to react to the trade news, as markets were closed earlier in the day for the Martin Luther King Jr. holiday.
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