In a historic shake-up of global trade, President Donald Trump has announced sweeping new import taxes on all goods entering the United States, marking the most significant shift in international trade policy since World War II.
Under the new plan, a baseline tariff of 10% will apply to all imports, while higher rates will hit 60 “worst offender” countries, including China and the European Union. Trump justified the move as necessary to counter what he described as unfair trade practices that have harmed the U.S. economy for decades.
“This is our declaration of economic independence,” Trump said in a Rose Garden address, flanked by American flags.
“For over 50 years, we have been looted, pillaged, raped, and plundered by nations near and far, both friend and foe alike.”
The White House said the 10% tariff would take effect on April 5, while higher duties on specific countries would follow on April 9.
China will be among the hardest hit, facing a total tariff of 54% after a new 34% duty is added to an existing 20%. The European Union will see a 20% tariff on its goods, while the United Kingdom faces a 10% rate. Japan and India will be subjected to tariffs of 24% and 26%, respectively. Meanwhile, some of the highest duties will be imposed on smaller economies such as Vietnam and Cambodia, which will face 46% and 49% tariffs, respectively. Goods from the southern African nation of Lesotho will be taxed at 50%.
According to the Congressional Budget Office, the tariffs could generate $2.2 trillion in revenue by 2034. Trump argued they would reinvigorate U.S. manufacturing and protect American jobs, fulfilling a key campaign promise from last year’s presidential race.
The decision stunned economic analysts and trading partners worldwide. Ken Rogoff, former chief economist at the International Monetary Fund (IMF), described the move as a “nuclear bomb on the global trading system.” Economists predict that the new tariffs will likely result in higher consumer prices in the U.S., slowing economic growth, and potential recessions in several countries as global trade is disrupted.
Despite warnings from Treasury Secretary Scott Bessent for countries not to retaliate, backlash has already begun. China’s commerce ministry vowed “resolute countermeasures” to protect its interests. European Commission President Ursula von der Leyen warned that if negotiations with Washington failed, the EU would respond with its own measures.
The new duties are expected to affect trillions of dollars in global trade, raising prices on thousands of items, from clothing and bicycles to European wine and toys. As the world braces for the fallout, Trump remains defiant. “Today, we are standing up for the American worker,” he said. “We are finally putting America first.”
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