By Musa Mdluli

MBABANE:United States(US) President Donald Trump has described the newly announced sweeping tariffs on goods from countries across the world a “Liberation" for America, the British Broadcasting Corporation(BBC) reported on Thursday evening.

“He says the move will make America wealthy again, but economists warn that prices could rise for Americans and fears of a global trade war have grown.Tariffs are taxes on goods from other countries. Companies bringing the goods into the country pay the amount, typically a percentage of the goods’ value, to the government.Trump announced a 10% "baseline” tariff on imports to the US. This is what the UK will face.But 60 countries will be hit with higher rates of up to 50%, including Cambodia, Vietnam, Malaysia and Bangladesh. Countries in the European Union face a 20% tariff. The tariffs are set to take effect in days.Trump also confirmed previously announced tariffs on specific goods, including 25% on steel, aluminium and foreign-made cars”, the BBC reported.