President Donald Trump has announced a sweeping set of import duties that includes a baseline 10% tariff on all trading partners and additional “kind reciprocal” tariffs aimed at countries he claims have the worst trade imbalances with the U.S. Speaking from the White House Rose Garden, Trump declared April 2, 2025, as “Liberation Day,” promising these measures would revive American manufacturing and end what he called a “national emergency” caused by chronic trade deficits.
Under this newly unveiled plan, China is hit the hardest, facing a new 34% tariff rate on top of a 20% levy already in effect—totaling a whopping 54% on many Chinese goods. Other targets include the European Union, set at 20%; Vietnam at 46%; Taiwan at 32%; and Japan at 24%. Trump also singled out Myanmar with a 44% tariff, citing the country’s existing 88% duty on U.S. products. Although these rates are lower than a fully “reciprocal” approach might demand, the president insisted they’re essential to protect American industries from what he calls “unfair trade practices.”
Critics say the tariffs could spark price hikes and economic turmoil at home, with allies like Canada and Mexico already threatening to retaliate. Some Republican lawmakers warn the plan might lead to recessionary risks, while Democrats in Congress vow to fight the tariffs “tooth and nail.” Still, the Trump administration is forging ahead, touting new manufacturing jobs and boosted tax revenues as the ultimate payoff for short-term disruptions in the global trading system.
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