President Donald Trump has intensified global trade tensions by unveiling a sweeping new tariff policy, imposing a 10% baseline tax on imports from most nations, while slapping even steeper levies on countries running trade surpluses with the US.
However, Canada and Mexico were spared from additional tariffs, with the White House justifying the exemption based on existing agreements.
The move has sent shockwaves through US allies, many of whom are already deeply concerned about Washington’s shifting foreign policy. On Thursday, Secretary of State Marco Rubio will face pressure from Nato partners to clarify the administration’s stance on the alliance and Ukraine, but his trip risks being overshadowed by the escalating trade dispute.
Trump defended his tariff hikes during a White House address, presenting a chart that laid out the new rates: 34% on Chinese goods, 20% on imports from the European Union, 25% on South Korean products, 24% on Japanese exports, and 32% on Taiwanese goods. He framed the decision as a necessary correction to what he sees as years of economic abuse by both allies and adversaries.
“Our country has been looted, pillaged, raped, plundered by nations near and far, both friend and foe alike,” Trump declared. “They rip us off, it’s so pathetic. Now, we’re going to charge.”
Here's the list of old and new tariff rates:
Country Old Tariff Rate New Tariff Rate (April 2, 2025)
The tariffs come at a time of mounting uncertainty within Nato, as Trump has repeatedly questioned the alliance’s mutual defense commitments and shown a willingness to engage diplomatically with Russia—Europe’s traditional geopolitical rival. His threats directed at Canada and Denmark have further fueled transatlantic unease.
Wednesday’s tariff announcement is expected to trigger retaliation from affected nations, amplifying trade disputes that could strain diplomatic ties further. While the administration insists the new policy is a necessary correction to trade imbalances, critics warn it could alienate long-standing partners and spark an economic backlash.
However, Canada and Mexico were spared from additional tariffs, with the White House justifying the exemption based on existing agreements.
The move has sent shockwaves through US allies, many of whom are already deeply concerned about Washington’s shifting foreign policy. On Thursday, Secretary of State Marco Rubio will face pressure from Nato partners to clarify the administration’s stance on the alliance and Ukraine, but his trip risks being overshadowed by the escalating trade dispute.
Trump defended his tariff hikes during a White House address, presenting a chart that laid out the new rates: 34% on Chinese goods, 20% on imports from the European Union, 25% on South Korean products, 24% on Japanese exports, and 32% on Taiwanese goods. He framed the decision as a necessary correction to what he sees as years of economic abuse by both allies and adversaries.
“Our country has been looted, pillaged, raped, plundered by nations near and far, both friend and foe alike,” Trump declared. “They rip us off, it’s so pathetic. Now, we’re going to charge.”
Here's the list of old and new tariff rates:
Country Old Tariff Rate New Tariff Rate (April 2, 2025)
The tariffs come at a time of mounting uncertainty within Nato, as Trump has repeatedly questioned the alliance’s mutual defense commitments and shown a willingness to engage diplomatically with Russia—Europe’s traditional geopolitical rival. His threats directed at Canada and Denmark have further fueled transatlantic unease.
Wednesday’s tariff announcement is expected to trigger retaliation from affected nations, amplifying trade disputes that could strain diplomatic ties further. While the administration insists the new policy is a necessary correction to trade imbalances, critics warn it could alienate long-standing partners and spark an economic backlash.
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