President Donald Trump announced new radical rates on Wednesday, which the White House called “Day of Liberation.”
“This is one of the most important days in my opinion in the history of the United States,” Trump said during a press conference in the Rosas Garden, outside the White House. “It is our declaration of economic independence.”
The new Round of Rates, which hits allies and enemies equally, with tariffs of up to 50%, also included minor commercial partners and marked a significant escalation of the taxes prior to some foreign products in recent weeks.
President Donald Trump speaks during an event to announce new rates in the Rosas Garden in the White House, on April 2, 2025, in Washington, DC
Mark Schiefelbein/AP
The plan includes reference rate, lighter rates for some countries
The new rates have two key policies: a 10% uniform rate for all imports and “reciprocal” imports and rates imposed on many nations that impose tariffs on US imports.
The 10% universal rate is equivalent to a wide commercial barrier that will play each product that enters the United States.
Trump said the measure would ensure that foreign companies paid a price for the benefits derived from the purchasing power of US consumers.
“Foreign nations will finally pay the privilege of access to our market,” Trump said.
In addition to the universal tariff, said Trump, the United States will impose tariffs on many countries that impose US assets. Trump described such duties as “reciprocal tariffs”, although he pointed out that the United States would impose tariffs in half the level of commercial barriers slapped to US products.
“We will charge you approximately half of what they are and we have been accusing,” Trump said. “We are friendly people.” He added later in his comments: “This is not complete reciprocal. This is kind reciprocal.”
The measure departs from the statements made by Trump in recent days promising to impose reciprocal tariffs that coincide with the commercial barriers of other countries.
What countries will see reciprocal tariffs?
The reciprocal tariffs will point to approximately 60 countries identified by the Trump administration as the “worst criminals,” White House officials said.
The Secretary of Commerce, Howard Lutnick, has a table while President Donald Trump speaks during an event to announce new rates in the Rosas Garden in the White House, on April 2, 2025, in Washingto, DC
Mark Schiefelbein/AP
The White House calculated the cumulative cost of the commercial barriers imposed by each of the objective nations, including rates and non -monetary measures. In each case, the United States will impose a rate of reciprocal rates at 50% of the level attributed to a given country.
According to the “reciprocal” tariff plan, the United States will impose the following taxes to the imported goods from the following countries to these rates:
- China: 34%
- European Union: 20%
- Japan: 24%
Both China and Japan were among the five main importers of the United States, according to the United States commercial representative. China supplied more than $ 536 billion in imported products in 2022 and Japan supplied more than $ 148 billion. The total value of the imported goods of the European Union in 2022 was more than $ 553 billion.
The 34% reciprocal rate for China adds to an anterior 20% Trump rate, slapped the nation, which carries the effective rate rate to one of the largest commercial partners of the United States to 54% in total.
What is not covered by the new rates?
Mexico and Canada, two of the largest commercial partners in the United States, are not affected by reciprocal tariffs. The assets under the US-Mexico-Canadá free trade agreement will continue not seeing tariffs, while the goods do not USMA are already under a rate of 25%, announced by Trump last month.
In addition, some products will not be subject to new reciprocal tariffs, including steel and aluminum imports, which are already below a 25% rate that entered into force last week. Reciprocal tariffs also include copper, pharmaceutical products, semiconductors and wood.
When do new rates enter into force?
The 10% universal rate will enter into force on the morning of April 5, and reciprocal tariffs will hit products on the morning of April 9, White House officials said.
Economists widely expect tariffs to increase prices for US consumers, since importers generally transmit a part of the fiscal burden in the form of higher costs.
“For decades, the United States reduced our commercial barriers in other countries, while those nations imposed massive tariffs on our products,” Trump said.
“All this happened without response from the United States of America, none at all,” Trump added. “But those days have ended.”
ABC News Jack Moore contributed to this report.
