Trump announces large-scale reciprocal tariffs on US imports

US President Donald Trump has announced the introduction of large-scale customs tariffs against the country’s trading partners. This is stated in the relevant White House proclamation.

Thus, the minimum basic tariff on imports from all countries will be 10% – it will come into force on April 5 this year.

In addition, starting April 9, individual reciprocal higher duties will be introduced for countries with which the United States has the largest trade deficit. In particular, the tariffs for China are 34%, the EU – 20%, Japan – 24%, India – 26%, South Korea – 25%, the UK – 10%, and Israel – 17%. For products from Ukraine, it will be 10%.

“These tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated,” the White House said in a statement.

Some goods are not subject to reciprocal tariffs. In particular, these are steel and aluminum products, cars/auto parts, which are already subject to Section 232 tariffs (25%). The tariffs on car imports came into effect on April 3, and they will be applied to auto parts on May 3.

Canada and Mexico will continue to enjoy a 0% duty on goods that meet the requirements of the USMCA (a trade agreement between the three countries), and a 25% duty on those that do not.

The United States did not impose new duties on goods from Russia, Belarus, North Korea, and Cuba, as the White House explained that these countries are under sanctions, which already precludes any significant trade with them.

European Commission President Ursula von der Leyen called the US universal tariffs a severe blow to the global economy and said the EU was ready to respond with countermeasures if negotiations with Washington fail.

“We are already finalizing the first package of countermeasures in response to the steel tariffs,” she said in a statement.

Von der Leyen emphasized that the bloc is preparing for further countermeasures to protect its interests and business if the talks fail.

“We will also closely monitor what indirect effects these tariffs may have, because we cannot absorb global overcapacity and we will not accept dumping in our market,” she said.

The EC President said she agrees with Trump that others have unfairly exploited global trade rules and is ready to support efforts to reform them.

China, in turn, has promised to take retaliatory measures. According to Bloomberg, the country’s Ministry of Commerce called on the United States to “immediately cancel” the tariffs and resolve trade differences through dialogue. The ministry called the introduction of duties dangerous for both global supply chains and economic growth. For China, the total amount of duties will reach 54%, as imports from this country were previously subject to 20% duties.

As a reminder, on March 12, US tariffs on all imported steel and aluminum came into effect at 25%. The largest steel exporters to the country are Canada, Mexico, Brazil, South Korea and Japan, while exports from Taiwan and Vietnam are growing rapidly.