Trump launches sweeping new tariffs, marking ‘Liberation Day’ in US trade policy

Trump launches sweeping new tariffs

US President Donald Trump on Wednesday unveiled a far-reaching set of new tariffs, declaring “liberation day” for American workers and manufacturers in a Rose Garden ceremony at the White House. The announcement marks a dramatic escalation in US trade policy and signals the beginning of what could become a prolonged period of global economic uncertainty, the Financial Times reported.

Under the new measures, the United States will impose a baseline tariff of 10 percent on all imported goods from every country. In addition, 60 countries identified by the Trump administration as the “worst offenders” in terms of trade deficits will face higher, individualized reciprocal tariffs ranging from 10 to 50 percent. These duties come on top of tariffs already in place, pushing the total levies on some imports to historic highs.

China, the EU and Asia hit hardest

China was among the hardest hit, with a new 34 percent tariff layered on top of an existing 20 percent, bringing the total to at least 54 percent. The European Union was hit with a 20 percent tariff, reflecting Trump’s long-standing criticism of the bloc’s trade practices. Japan will face a 24 percent tariff, while several Southeast Asian nations were dealt some of the steepest penalties — 46 percent for Vietnam, 48 percent for Laos, and 49 percent for Cambodia. The French territory of Saint Pierre and Miquelon, off the coast of Canada, was singled out with a full 50 percent tariff.

Exceptions for North America and strategic sectors

Some key trading partners avoided the harshest measures. Mexico and Canada, despite being frequent targets of Trump’s trade attacks, were exempted from the reciprocal tariffs. However, they remain subject to existing 25 percent penalties on goods that do not comply with the 2020 US-Mexico-Canada Agreement. The United Kingdom received a 10 percent tariff — the lowest of any major economy — a move that could smooth the path toward a future US-UK trade deal.

Not all goods were treated equally. Automobiles and auto parts, which were already hit with 25 percent tariffs last week, were spared further duties. Imports of bullion, energy, and minerals not found in the US were also exempted from the reciprocal tariffs. Key industries such as semiconductors, pharmaceuticals, copper, and lumber were not immediately affected, although the administration has launched investigations that could result in future levies on those sectors.

Implementation begins immediately

The first wave of tariffs will go into effect at 12:01 a.m. on Saturday, April 5, beginning with the 10 percent universal duty. The higher reciprocal tariffs on the 60 targeted countries will follow just a few days later, taking effect on Thursday, April 9.

To justify the sweeping measures, the administration invoked emergency powers, declaring a national emergency based on national security and economic concerns stemming from what it described as persistent and damaging trade deficits.

White House outlines long-term goals

In announcing the tariffs, officials outlined several key goals: reducing the trade deficit, encouraging companies to relocate manufacturing to the US, punishing what they described as unfair trade practices by foreign nations, and raising revenue that could help offset the costs of Trump’s deep tax cuts.

Although the executive order leaves room for negotiation, any rollback of the tariffs will be entirely up to the president. The White House made it clear that countries seeking relief must first take “significant steps” to correct what the administration views as one-sided trade relationships and to demonstrate alignment with US economic and national security objectives.

A warning against retaliation

Officials also warned that any retaliation would trigger further duties from the US, raising the prospect of a deepening global trade conflict. Trump’s aides emphasized that they are focused for now on implementing the tariff regime and not on brokering new deals.

A historic shift in US trade posture

Wednesday’s announcement represents one of the most aggressive trade moves by a US president in modern history. For Trump and his supporters, the tariffs are a fulfilment of his promise to protect American industry and restore manufacturing. For critics, they signal a lurch toward protectionism that could raise prices, rattle markets, and damage relations with allies. As “liberation day” begins, the world is bracing for what comes next.