President Trump ended months of suspense Wednesday by revealing broad reciprocal duties on all US trade partners, in what he has referred to as “Liberation Day.”
Trump announced plans to impose a baseline tariff of 10% across all countries, upping those duties for various partners whom he described as bad actors.
Here’s a sampling of some countries’ rates set to go into effect:
China: 34%
Vietnam: 46%
European Union: 20%
South Korea: 25%
India: 26%
Taiwan: 32%
The moves Wednesday are the latest escalation of a trade war that also includes plans to impose 25% tariffs on all foreign-made vehicles this week. Here’s a rundown of other tariff-related moves Trump has made in his first months in office.
Steel and aluminum: A 25% US tariff on imports of steel and aluminum from all countries took effect on Wednesday, March 12.
European Union: The EU has responded to those metals duties with counter-tariffs on $28 billion in US goods from April. However, the EU delayed the implementation of some of those tariffs until mid-April — including a 50% duty on American whiskey, which had prompted Trump to threaten a 200% tariff on European spirits.
Canada and Mexico: Trump’s 25% across-the-board tariffs on its US neighbors went into effect on Tuesday, March 4. Just two days later, Trump confirmed the US would pause tariffs on goods and services compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2.
China: Trump had enacted new blanket tariffs of around 20% on top of existing 10% duties that went into place during Trump’s first term. China has responded with up to 15% duties on US farm goods such as chicken and pork, which went into effect Monday, March 10.
Venezuela: Trump said the US will impose a “secondary tariff” on Venezuela, to take effect on April 2 — any country that buys oil or gas from Venezuela would face a 25% tariff when trading with the US.
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