U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, D.C. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON — President Donald Trump rolled out sweeping “reciprocal” tariffs Wednesday on trading partners and allies across the globe.
The president unveiled a baseline 10% levy on all international imports, plus what he described as additional “kind” and “discounted” tariff rates that will increase but not match the rates other countries apply to American imports.
The levies, effective at midnight, will hit U.S. industries from agriculture to manufacturing to fashion.
According to a table distributed at Trump’s speech, U.S. tariffs will reach 34% on imports from China, 46% on products from Vietnam and 20% on European Union imports, among other increases.
Business owners who purchase goods from outside the U.S. will have to pay the increased duty rates to bring the products over the border, unless Trump carves out exceptions for certain industries. The president did not mention carve-outs in his remarks.
Trump introduced the taxes on imports with fanfare Wednesday in the White House Rose Garden, where he said, “This is Liberation Day.”
“April 2, 2025, will forever be remembered as the day American industry was reborn,” Trump said.
Republican lawmakers, including House Speaker Mike Johnson of Louisiana and Georgia U.S. Rep. Marjorie Taylor Greene, attended the event alongside several of Trump’s Cabinet members and representatives from the United Auto Workers.
The White House has circulated figures claiming the U.S. will raise up to $600 billion in revenue per year as a result of the tariffs — an estimate met with skepticism by economists.
This is a developing report that will be updated.
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Author: Ashley Murray