President Donald Trump on Wednesday announced the imposition of reciprocal tariffs on numerous countries across different continents.
Speaking at the White House Rose Garden on what he called “Liberation Day,” Trump assured Americans that the new tariffs would positively impact the country’s economy.
Under the new trade policy, all nations will face minimum baseline tariffs of 10 percent on goods imported into the United States. However, certain countries will be subjected to significantly higher tariffs, depending on trade imbalances and economic policies.
The reciprocal tariff rates for specific countries are as follows:
China – 34%
European Union – 20%
Vietnam – 46%
Taiwan – 32%
Japan – 24%
India – 26%
South Korea – 25%
Thailand – 36%
Switzerland – 31%
Indonesia – 32%
Malaysia – 24%
Cambodia – 49%
United Kingdom – 10%
South Africa – 30%
Brazil – 10%
Bangladesh – 37%
Singapore – 10%
Israel – 17%
Philippines – 17%
Chile – 10%
Australia – 10%
Pakistan – 29%
Turkey – 10%
Sri Lanka – 44%
Trump emphasized that these reciprocal tariffs are aimed at addressing trade imbalances, protecting American industries, and ensuring fair competition on the global stage. The new tariffs are set to take effect immediately.
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cc: Daily Post Ng
