Donald Trump Tariff Announcement LIVE: President Donald Trump has announced a sweeping tariff policy, imposing a 10% baseline tax on imports from all countries and higher rates on nations with trade surpluses with the United States.
Speaking at the White House on Wednesday, Trump revealed that the United States would levy a 34% tariff on imports from China, 20% on the European Union, 25% on South Korea, 24% on Japan, and 32% on Taiwan. The president emphasized that these measures were aimed at addressing a trade imbalance he described in stark terms.
“Our country has been looted, pillaged, raped, plundered by other nations,” Trump said, justifying the aggressive tariff stance.
Canada and Mexico, two of the United States’ largest trading partners, are already subject to 25% tariffs on a range of goods. The new 10% baseline tariff will apply to all other countries beginning Saturday at 12:01 AM ET.
The Trump administration is also set to implement 25% tariffs on automobile imports starting April 3.
The administration expects the tariffs to generate hundreds of billions of dollars annually, with Trump promising a revival of domestic manufacturing jobs.
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