Washington has officially announced the introduction of customs tariffs on imports from most countries worldwide. U.S. President Donald Trump made this announcement during a speech at the White House. The decision was made based on the principle of reciprocity, with the goal of protecting the American economy.
Trump signed an executive order declaring a national emergency due to the trade deficit. As a result, all imported goods entering the U.S. will now be subject to tariffs ranging from 10% to 50%, depending on their country of origin.
Tariff rates by country:
EU – 20% China – 34% Vietnam – 46% Taiwan – 32% Japan – 24% South Korea – 25% Thailand – 36% Switzerland – 31% Indonesia – 32% Malaysia – 24% Cambodia – 49% United Kingdom – 10% South Africa – 30% Rest of the World – 10%
The maximum tariff of 50% will apply to goods from Lesotho (Africa) and the French overseas territory of Saint Pierre and Miquelon.
Russia is absent from the published list, but it is expected that its tariff will also be set at 10%.
Canada and Mexico will receive special conditions: a 25% tariff on certain goods, with the possibility of exemptions under the North American Free Trade Agreement (NAFTA).
Speaking at an event under the slogan “Make America Wealthy Again,” Trump declared April 2nd as “America’s Liberation Day” from foreign goods. He stated that foreign leaders had “stolen our jobs,” while “fraudsters have plundered our factories.” According to him, the trillions of dollars generated by the new tariffs will be used to cut taxes and reduce the national debt.
World leaders reacted swiftly to Trump’s announcement. The European Union is already preparing retaliatory trade measures. The President of the European Council called the new tariffs a “major economic mistake,” while Brussels is considering emergency steps to minimize damage. The new U.S. tariff regime risks escalating into a full-scale trade war, the consequences of which could affect the global economy.
