Trump tariffs announcement highlights: US President says ‘big business not worried’
Trump tariffs announcement highlights: The White House claims that the sweeping tariffs are aimed at freeing America from its dependence on foreign goods.
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Trump tariffs announcement highlights: US President Donald Trump announced reciprocal tariffs against other countries on Wednesday during an event at the Rose Garden of the White House. The tariffs ranged from 10 per cent to 49 per cent. Trump levied a 26 per cent tariff on India, 34 per cent on China, 46 per cent on Vietnam, 10 per cent on the UK, 49 per cent on Cambodia and 25 per cent on South Korea....Read More
The Trump administration claimed that the move is aimed at freeing America from its dependence on foreign goods and deterring countries from levying unfair duties on them.
Trump, who has dubbed the announcement on April 2 as 'Liberation Day', said, “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.”
Notably, the chart Donald Trump displayed at White House while announcing retaliatory tariffs indicated that India charged 52 per cent tariffs, including currency manipulation and trade barriers, and America would now charge India a discounted reciprocal tariff of 26 per cent. But according to the White House documents, there will be a 27 per cent duty on India.
Last month, US Treasury Secretary Scott Bessent said the Trump administration focused on the 15 percent of the countries that account for the largest trading volumes with the US and the highest tariffs simultaneously, referring to them as the "Dirty 15."
He said these nations often have a system governing domestic content or food safety that conspires to keep American products out of their markets. These countries include, Mexico, Canada, Japan, India, Germany, South Korea, The UK, Ireland, France, etc.
More on Trump tariffs:
- Trump administration expects tariff announcements to trigger offers from affected countries to reduce their own tariffs or non-tariff measures.
- Trump, who levied 26 per cent tariffs on imports from India, has often mentioned that New Delhi has the highest average tariff rates, being one among its top trading partners. While making the announcement on Wednesday, he said, “Their Prime Minister (Narendra Modi) just left (US recently). He is a great friend of mine, but I said to him that 'you're a friend of mine, but you've not been treating us right'. India charges us 52 per cent, so we will charge them half of that - 26 per cent.”
- The new announcements were initially met with measured reactions from US' key trading partners. However, since the countries that were worst hit by sweeping tariffs had been sleeping at the time of Trump's announcement, fairly delaying any potential outrage.
- The US Senate, meanwhile, passed a resolution to rebuke Trump's tariffs on Canadian imports by a 51-48 vote tally.
Trump tariffs announcement live: Trump announces 25% tariff on all foreign automobiles, effective at midnight ET
US President Donald Trump announced 25% tariff on all foreign automobiles effective at midnight ET, CNN reported.
Trump criticised other countries for imposing high tariffs on US made cars.
“None of our companies are allowed to go into other countries. And I say that, friend and foe — and in many cases, the friend is worse than the foe in terms of trade," he said. "But such horrendous imbalances have devastated our industrial base and put our national security at risk.”
Trump tariffs announcement live: US President terms new tariffs a "declaration of economic independence"
US President Donald Trump said today is “one of the most important days” in American history, CNN reported.
“It’s our declaration of economic independence,” Trump said at a Rose Garden event announcing the new measures.
He also added that the United States would use the money generated from tariffs to “reduce our taxes and pay down our national debt.”
Trump tariffs announcement live: US President signs ‘reciprocal’ tariffs
US President Donald Trump said on Wednesday that he is signing the order for reciprocal tariffs 'throughout the world', AFP reported.
Trump tariffs announcement live: Trump administration confirms car tariffs start Thursday, auto parts on May 3
US President Donald Trump's administration on Wednesday confirmed that his 25% global car and truck tariffs will take effect as scheduled on Thursday and that duties on automotive parts imports will be launched on May 3.
Trump tariffs announcement live: Trump's plan amplifies risk of ocean shipping chaos
Trump tariffs announcement live: US President Donald Trump's new tariff plan has the ocean shipping industry on edge, reports Reuters. "The implementation of stacked tariffs has led to mounting confusion," Blake Harden, the Retail Industry Leaders Association's vice president of international trade tells Reuters. "Companies have not had adequate time, certainty, and guidance they need to incorporate these changes and comply."
Trump tariffs announcement live: UK will not 'rush into action' on duties
Britain's finance minister on Wednesday said that the UK would not "rush into action" over impending US tariffs, as the government hopes to reach a post-Brexit trade deal with Washington, AFP reported.
The UK government is working to secure a new economic deal with the United States which could ultimately help it avoid -- or at least mitigate -- a fresh raft of tariffs soon to be announced by President Donald Trump.
Trump tariffs announcement live: EU eyes emergency plans to shield economy
Trump tariffs announcement live: The European Union is preparing a package of potential emergency measures to support parts of its economy that could be hit the hardest by US President Donald Trump’s sweeping tariffs, Bloomberg reported, citing people familiar with the matter.
Trump tariffs announcement live: Mexico says will not impose tit-for-tat tariffs
Trump tariffs announcement live: Mexican President Claudia Sheinbaum says that her country will not impose tit-for-tat tariffs on the United States hours before Donald Trump's ‘Liberation Day’ tariffs announcement.
Trump tariffs announcement live: European Central Bank president on tariffs
Trump tariffs announcement live: On tariffs, European Central Bank president Christine Lagarde says on Ireland's Newstalk radio: "It will be negative the world over and the density and the durability of the impact will vary depending on the scope, on the products targeted, on how long it lasts, on whether or not there are negotiations."
Trump tariffs announcement live: GOP senators meet Trump at White House
Trump tariffs announcement live: US President Donald Trump is hosting a morning meeting with Senate Majority Leader John Thune and Republicans on the Senate Budget Committee to discuss a framework for his big bill of tax breaks and spending cuts, reports the Associated Press.
Trump tariffs announcement live: Dollar dips as tariff plan keeps traders on edge
Trump tariffs announcement live: The dollar slipped and other currencies held in tight ranges on Wednesday as traders awaited details of President Donald Trump's plans for tariffs, reports Reuters.
Trump tariffs announcement live: Which countries are likely to be worst hit?
Trump tariffs announcement live: While details of Trump's tariffs are not yet clear and any official list has not been put out yet, a report from the US Census Bureau reveals a set of countries that are Washington's top trade partners, ranked by 2024 total bilateral goods trade.
The countries are: Mexico, Canada, China, Germany, Japan, South Korea, Taiwan, Vietnam, United Kingdom, India, Netherlands, Ireland, Italy, France and Brazil.
Trump tariffs announcement live: Trump attempting to be an ‘emperor', says Chile president
Trump tariffs announcement live: Hours before Trump's tarrif announcement, Chile’s leftist President Gabriel Boric criticised the US president saying that he is attempting to be an “emperor”, Bloomberg reports.
Trump tariffs announcement live: US president vows national ‘Liberation Day’ celebration
Trump tariffs announcement live: Ahead of the highly anticipated rollout of reciprocal tariffs by the United States, President Donald Trump took to social media to declare his vision for "Liberation Day."
"It's Liberation Day in America," Trump wrote on his social media platform, Truth Social.
Trump tariffs announcement live: Germany warns ahead of US tariffs
Trump tariffs announcement live: Germany has warned that trade wars hurt "both sides" as Europe's biggest economy braces for Trump to announce wide-ranging new "Liberation Day" tariffs
"The costs of a trade war do not fall on one side but can become expensive for both sides," government spokesman Steffen Hebestreit said, according to AFP.
Trump tariffs announcement live: What UK PM said on Trump tariffs
Trump tariffs announcement live: UK PM Keir Starmer has said that the British government has “prepared for all eventualities” and is working with companies likely to be hit by Donald Trump’s tariffs, reports PA Media.
“Let me be clear with the House, a trade war is in nobody’s interests and the country deserves – and we will take – a calm, pragmatic approach," he says.
Trump tariffs announcement live: White House exudes confidence
Trump tariffs announcement live: The White House is exuding confidence over the tariffs announcement despite the political and financial gamble being undertaken, according to the Associated Press.
“April 2, 2025, will go down as one of the most important days in modern American history,” White House press secretary Karoline Leavitt said on Tuesday.
Trump tariffs announcement live: US president set to unleash 'Liberation Day' reciprocal tariffs
Trump tariffs announcement live: US President Donald Trump is set to announce reciprocal tariffs against other countries today during an event at 4pm (local time) in the Rose Garden of the White House.
Trump claims that the move is aimed at freeing America from its dependence on foreign goods and deterring countries from levying unfair duties on them.
