US President Donald Trump has announced a new tariff policy, implementing a 10% global tariff on all US imports while confirming a previously set 25% duty on auto imports. The 10% tariff takes effect on Saturday, with reciprocal tariffs beginning April 9.
These reciprocal tariffs aim to counter foreign levies imposed on US exports and will be added to existing duties. Trump’s executive order exempts steel imports, along with goods from Mexico and Canada, which were subject to prior tariff regimes.
Major steel-exporting nations face significant tariff increases, with Vietnam at 46%, China at 34%, Taiwan at 32%, India at 26%, South Korea at 25%, Japan at 24%, and the EU at 20%. Turkey and Brazil received lower reciprocal rates at 10%.
Trump justified the tariffs as a response to the US trade deficit, calling it a national security emergency. He claimed the move would revitalize US manufacturing, strengthening industries like auto production, shipbuilding, and infrastructure.
The White House stated that Canada and Mexico could face 12% reciprocal tariffs on non-compliant goods under the United States-Mexico-Canada Agreement. Trump urged nations to eliminate tariffs on US exports and increase purchases of American goods.
