US President Donald Trump has announced a 10% baseline "reciprocal" tariff on all countries, effective from April 5, with the EU and China facing implementation on April 9. The tariffs will apply to all goods entering the US, except for cars, auto parts, steel, and aluminum, which are already subject to specific tariffs. Copper and semiconductors are also exempt. The US has calculated tariffs faced by its exporters in different countries and will impose half of that average. For example, China will face a 34% tariff, while the EU will face 20%, and South Korea 25%.