On April 3, United States President Donald Trump announced comprehensive reciprocal trade levies on the country’s trading allies in a move that he called “Liberation Day.” This decision entailed the implementation of a widespread 10 percent tariff on imports from most nations, with additional tax rates imposed on countries accused by the US of imposing higher taxes on American products. The policy sparked turmoil in international markets, eliciting criticism and retaliatory measures from world leaders, including China and the European Union, which may signify the onset of a trade conflict.

The 10 percent flat tariff will be effective starting April 5, with additional duties from the custom-tailored tariffs following suit on April 9. China, in particular, faces a 54 percent tariff, including a 20 percent levy from a previous measure, with countries like Lesotho, Cambodia, and Vietnam also bearing significant increases. Lynn Song, chief economist for Greater China at ING Dutch bank, noted that the tariffs were more aggressive than anticipated, likely prompting retaliation from key players, though smaller nations may negotiate for lower rates.

In addition to the tariffs on China, the European Union also receives a 20 percent tariff while baseline fees of 10 percent were set for all goods entering the US. The policy affects around 60 countries, including significant trading partners and smaller economies alike.

On April 5, 2025, this accountability comes to light as the inception of these new charges comes into play. Amongst the duties, it seems the citizens of the United States, along with its larger trading affiliates, will bear the brunt of the increases.

Source: https://www.aljazeera.com/news/2025/4/4/how-much-will-trumps-new-tariffs-hurt-other-countries-and-us-consumers?traffic_source=rss