Donald Trump has announced new tariffs today as part of his “Liberation Day” economic plan. These tariffs will impose reciprocal duties on countries like India, China, Brazil, Japan, and the EU, mirroring their tariffs on US exports.
Key proposals include a 25% tariff on imports from Canada and Mexico, a 20% tariff on Chinese imports, a 25% tariff on steel and aluminum, and a 10% tariff on Canadian energy.
Following his speech at the White House Rose Garden, Trump signed an executive order implementing the tariffs, declaring, “We’re standing up for American workers and finally putting America first.” He emphasized that the US has long supported other nations but is now prioritizing its own economy.
He revealed a chart detailing the new tariff structure:
• China – 34%
• EU – 20%
• Vietnam – 46%
• Taiwan – 32%
• Japan – 24%
• India – 26%
• South Korea – 25%
• Thailand – 36%
These tariffs, effective immediately, aim to counteract what Trump calls “decades of unfair trade practices.”
