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U.S. President Donald Trump on Wednesday announced he is signing an executive order imposing so-called "reciprocal" import tariffs. “Effective at midnight, we will impose a 25 per cent tariff on all foreign-made automobiles,” Trump said, adding that with this latest trade policy, the U.S. would “pry open foreign markets and break down foreign trade barriers." Trump added his move to launch tariffs would be remembered as “Liberation Day.”