NEW DELHI: Former U.S. President Donald Trump announced an expansive set of tariffs on Wednesday, declaring that the measures will strengthen the American economy and protect domestic industries.

The tariffs, imposed via executive order, are expected to have wide-ranging global economic impacts. However, Trump insists they are necessary to correct trade imbalances and support American manufacturing and jobs.

New Tariff Measures

10% Baseline Tariff

A senior White House official, speaking ahead of Trump’s announcement, revealed that the executive order introduces a universal 10% tariff on all imports to the United States. This tariff, which goes into effect on April 5, applies to goods entering the country from various trading partners.

Importers bringing foreign goods into the U.S. will bear the tax, a cost that could be passed down to consumers. Countries that will only face this baseline tariff include:

• United Kingdom
• Singapore
• Brazil
• Australia
• New Zealand
• Turkey
• Colombia
• Argentina
• El Salvador
• United Arab Emirates
• Saudi Arabia

Targeted Tariffs for ‘Worst Offenders’

In addition to the baseline measure, Trump’s administration has outlined specific, higher tariff rates for nations deemed to have imposed restrictive trade practices or unfair tariffs on American goods. These custom tariffs will take effect on April 9 and apply to approximately 60 nations.

Key affected trade partners and their respective tariff rates include:

• European Union: 20%
• China: 54% (including previously imposed tariffs)
• Vietnam: 46%
• Thailand: 36%
• Japan: 24%
• Cambodia: 49%
• South Africa: 30%
• Taiwan: 32%

Exemptions for Canada and Mexico

Notably, Canada and Mexico will not be subject to the new 10% baseline tariff. The White House clarified that tariffs on these two nations remain governed by prior executive orders, which previously established a 25% tariff on all imports from both countries in response to border security concerns and fentanyl-related issues.

25% Tariff on Foreign Automobiles

Further reinforcing his economic agenda, Trump announced an immediate 25% tariff on all foreign-made automobiles, effective as of midnight local time on the day of the announcement. This measure aims to bolster the U.S. auto industry and reduce reliance on overseas vehicle production.

Global Reactions and Economic Outlook

The sweeping tariffs are expected to trigger strong reactions from global trade partners, with potential retaliatory measures looming. Economists have warned of possible inflationary pressures and supply chain disruptions, while supporters argue the move will reinvigorate domestic production and job growth.

As the international response unfolds, markets and businesses are bracing for the impact of Trump’s latest economic maneuver.