The President of the United States, Donald Trump, outlined this Wednesday from the Rose Garden of the White House what he has described as a tariff war declaration by his country against the world, a measure he had been preparing for weeks.
"We have good news to share today," declared the leader before announcing a 25% tariff on all cars manufactured abroad, a measure that will take effect from midnight, reported El País.
Trump also announced that his administration will impose a general tariff of 10% on all imports from any country, although he clarified that it will be higher for those that, in his view, take the most advantage of the United States.
In that group, he included the European Union, which will be subject to a 20% tax, highlighted El País.
"April 2nd will be remembered as the day the U.S. industry was reborn. We have been deceived for more than 50 years, but it will not happen again," the president stated.
So far, the United States has already imposed a 25% tariff on numerous imports from Canada and Mexico, which—according to Trump—aim to pressure both countries to take stronger action against irregular migration and fentanyl smuggling.
Trump also proclaimed this Wednesday as the “day of economic independence for the United States” and signed an executive order that, in his words, “will raise a wall against imports.”
In a speech full of bold statements, the leader asserted that his trade policy will not only protect jobs but also transform the U.S. into "wealthier than any other country."
The president announced that he will impose a 34% tariff on all Chinese products, just days after hinting that he might travel to Beijing. "I have great respect for Xi, the president of China, but they are taking advantage of us," he stated.
Surrounded by American flags and industrial workers, Trump assured that the country's new economic phase will require legal labor: “We are going to need people to work, but legally. People who love our country.”
Despite the confrontational tone of the speech and warnings from economists about a possible global recession, financial markets reacted with optimism. The major indices on Wall Street closed higher on the day of the announcement: the S&P 500 rose by 0.67%, the Dow Jones by 0.56%, and the Nasdaq by 0.87%.
In addition to the announcement from the White House, the administration published a detailed list of reciprocal tariffs by country through the account Rapid Response 47 on the social network X.
This table establishes adjusted tariffs based on the rates that countries currently apply to American products, according to the U.S., including trade barriers and currency manipulation. Thus, countries that impose the highest taxes on American exports now face higher tariffs in response.
Among the most notable cases is Vietnam, which, according to the administration, charges 90% in tariffs to the U.S. and will now face a levy of 46%. It is followed by Cambodia (97%), Laos (95%), Myanmar (88%), and Madagascar (93%), which will be subject to tariffs of 49%, 48%, 44%, and 47%, respectively.
China, which has a 67% tariff on U.S. products, will now face a 34% tariff. Taiwan (64%) will have a 32% tariff; India (52%) will have a 26% tariff; Thailand (72%) will face a 36% tariff; and Switzerland (61%) will see a 31% tariff.
Regarding the European Union, which Trump directly accused of "scamming the U.S. for years," a 20% tariff will be applied in response to the 39% tariffs that it allegedly imposes on trade with the United States.
Other Latin American countries also appear on the list. Nicaragua, which charges 36% according to Washington, will face 18%; Serbia (74%) will face 37%; Bangladesh (74%) will face 37%; and Botswana (74%) will also face 37%.
In contrast, several countries will maintain the minimum tariff of 10% set by Trump as a general baseline. These include Brazil, Colombia, Chile, Peru, Costa Rica, Argentina, Guatemala, Honduras, El Salvador, the Dominican Republic, Trinidad and Tobago, Egypt, Saudi Arabia, Singapore, Australia, and Israel, among others.
According to the administration, these "adjusted" rates represent an act of commercial reciprocity in response to decades of imbalances. However, economists and trading partners have warned that the method used to calculate these rates includes internal taxes such as VAT and other non-tariff burdens, which could spark conflicts in the World Trade Organization (WTO) and lead to new diplomatic tensions.
Frequently Asked Questions about the New Global Tariffs Imposed by Trump
What tariffs has Trump imposed on automobile imports?
Trump has imposed a 25% tariff on all cars manufactured abroad, as part of his strategy to protect the American automotive industry. This measure will take effect at midnight on April 2, 2025. The policy also applies to automobile parts, including engines and transmissions.
What are the new tariffs imposed on imports from China?
Trump has announced a 34% tariff on all Chinese products, in response to what he considers unfair trade practices. These tariffs are part of a broader package aimed at pressuring China to take action against the smuggling of fentanyl into the United States.
What economic impact is expected from Trump's new tariffs?
The new tariffs from Trump could lead to an increase in the costs of imported products, affecting consumers and businesses that rely on these goods. Analysts warn of a potential inflationary impact and a slowdown in economic growth in the U.S., as well as diplomatic tensions with its trade partners. However, financial markets initially responded with optimism to the announcement.
Which countries will face higher tariffs due to Trump’s new policies?
Various countries, including China, the European Union, and some Asian countries like Vietnam, are facing higher tariffs due to Trump's new policies. These tariffs are based on the rates that, according to the U.S., these countries currently impose on American products. For example, Vietnam faces a tariff of 46%, while the European Union faces a levy of 20%.
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