President Donald Trump on Wednesday announced sweeping new tariffs on foreign imports, including a 10% baseline tariff on all goods entering the United States and higher rates for dozens of nations labeled “worst offenders.” These include China (35%), Vietnam (46%), Taiwan (32%), Japan (24%), and the European Union (20%). The new tariffs, implemented under the International Economic Emergency Powers Act (IEEPA), begin Friday, with reciprocal tariffs for targeted nations taking effect April 9. An additional 25% tariff on all foreign-made vehicles begins April 3. Mexico and Canada are excluded from the new measures but remain subject to existing auto tariffs related to fentanyl enforcement.
Trump’s administration says the tariffs aim to protect U.S. manufacturing and reduce trade imbalances. Graphics displayed during the Rose Garden announcement showed comparative tariffs imposed on U.S. goods by each country. Trump emphasized the action as a “declaration of economic independence,” claiming critics had been “totally wrong” on trade for decades.
But economic experts and critics warned of serious fallout. Democrats, including House Minority Leader Hakeem Jeffries, slammed the move, arguing it would increase consumer prices and risk a recession. “This is not liberation day, it’s recession day,” Jeffries said.
Sen. Rand Paul (R-KY) called the tariffs “a tax,” warning they would reduce trade and harm prosperity. Analysts noted the tech sector could be hit especially hard. Companies like Apple and Nvidia rely heavily on Chinese and Taiwanese supply chains and face steep new tariffs under the plan. Tech stocks fell sharply, with Apple, Microsoft, and Nvidia down significantly in 2025.
Some foreign nations are preparing retaliatory tariffs, raising fears of a global trade war. Despite the backlash, the White House insists the move is non-negotiable, calling it a “national emergency.”
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