After months of delays and negotiations, President Donald Trump's tariffs on imported goods from 70 different countries went into effect on Thursday.

A 10% minimum tariff on imports from all countries is now in place, with higher rates applicable to goods from some nations. Additionally, there is a 50% import tax on copper.

The new tariffs have raised the effective tariff rate paid by U.S. consumers to the highest level since 1934, according to the Yale Budget Lab. The effective tariff rate is now 18.3%, up from 16.6% prior to the implementation of the new tariffs.

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Highest taxes since the 1930s. I'm sure we'll enjoy it just as much as people did back then. The only thing that can save Trump is that the tariffs are patently illegal and will eventually, hopefully soon, be struck down by the courts.