The News
US President Donald Trump unveiled sweeping reciprocal tariffs Wednesday, announcing baseline 10% duties on imports from all trading partners, and much higher rates for some nations.
The announcement marks the most significant escalation in Trump’s trade war, as some world governments have vowed retaliation, while others, like the UK, have signaled willingness to negotiate new trade deals.
The new duties are customized for each nation based on what trade barriers they impose on the US: “They do it to us, we do it to them,” Trump said in his announcement at the Rose Garden.
China, India, and the European Union are all among those that face higher duties, at 34%, 26%, and 20% respectively.
The baseline tariffs will go into effect April 5, and the higher duties will kick in on April 9.
The announcement represents the largest upheaval in US trade policy in decades. Trump’s oft-stated aim is to redress the global trade system that, he believes, is inherently unfair to the US.