President Donald Trump on Wednesday announced a broad set of tariffs on all trading partners, along with targeted “reciprocal” tariffs on nations he accused of unfair trade practices.
“My fellow Americans, this is Liberation Day,” Trump declared from the White House Rose Garden, asserting that the move would reduce U.S. dependence on foreign goods and bolster domestic industries.
“April 2, 2025, will be remembered as the day American industry was reborn, the day we reclaimed our destiny, and the day we set out to make America wealthy again,” Trump declared.
Describing the new trade measures as “historic,” Trump announced a baseline tariff of 10% on all trading partners, along with additional, targeted tariffs on specific nations, including China, the European Union, and Taiwan.
“We will charge them approximately half of what they have been charging us,” he said. “Because we are being very kind. This is not full reciprocity—this is kind reciprocity.”
Trump then presented a chart listing various countries and their new U.S. tariff rates. China topped the list, facing a 34% tariff, which Trump claimed was in response to China’s 67% tariff on U.S. goods. According to Trump’s senior trade advisor, Peter Navarro, this new tariff would be added to an existing 20% duty on Chinese imports, bringing the total to 54%.
A 10% baseline tariff rate will take effect on April 5, according to senior White House officials. The “reciprocal” tariffs, described as “kind reciprocal” by officials, will go into effect on April 9 at 12:01 a.m., impacting approximately 60 countries.
These tariffs are based not only on the items listed in official trade charts but also on allegations of currency manipulation and trade barriers.
Former President Donald Trump characterized trade deficits as a “national emergency,” asserting that his measures would usher in what he called “the golden age of America.”
“In short, chronic trade deficits are no longer merely an economic problem. They’re a national emergency that threatens our security and our very way of life. It’s a very great threat to our country,” he stated.
Wednesday’s tariff announcement marks the culmination of months of planning but carries significant political and economic risks. Some experts warn that the tariffs could push the economy into a recession. Markets fluctuated ahead of the announcement after weeks of uncertainty surrounding the administration’s shifting tariff policies.
The White House remained tight-lipped on details leading up to the announcement. One senior administration official described the situation as “still very fluid” following meetings on Wednesday morning, noting that Trump and his top advisers were working to find common ground.
In recent weeks, officials debated various options, ABC News Senior White House Correspondent Selina Wang reported. These included a 20% flat tariff on all imports, differentiated tariff levels based on each country’s levies on U.S. goods, or tariffs targeting roughly 15% of countries with the largest trade imbalances with the U.S.
Wednesday’s tariffs build onto levies already imposed by the administration, including on steel and aluminum as well as certain goods from China, Canada and Mexico.
The actions have strained relations with Canada and Mexico, two key allies and neighbors. Prime Minister Mark Carney said last week the U.S. and Canada’s deep relationship on economic, security and military issues was effectively over.
Canada has vowed retaliatory tariffs and Mexico said it will give its response later this week. The European Union, too, said it has a “strong plan to retaliate.”
But Trump and administration officials are plowing full steam ahead, arguing America’s been unfairly “ripped off” by other nations for years and it’s time for reciprocity.
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said on Wednesday.
The chart he held up had one column showing what it called tariffs imposed by what Trump suggested were the top five offending countries next to a second column with what it said were the U.S. “discounted reciprocal tariffs” against them.
They include:
- China at 67% compared with 34%
- The European Union at 39% compared with 20%
- Vietnam at 90% compared with 46%
- Taiwan at 64% compared with 32%
- Japan at 46% compared with 24%
The list includes a massive 44% tariff on Myanmar, currently reeling from a devastating earthquake, saying that country imposes an 88% tariff on the U.S.
The economy was the top issue for voters in the 2024 presidential election, with Americans casting blame on President Joe Biden for high prices and Trump promising to bring families financial relief.
The administration has painted tariffs as a panacea for the economy writ large, arguing any pain experienced in the short term will be offset by what they predict will be major boosts in manufacturing, job growth and government revenue.
“Jobs and factories will come roaring back into our country, and you see it happening already. We will supercharge our domestic industrial base,” Trump said. “We will pry open foreign markets and break down foreign trade barriers. And ultimately, more production at home will mean stronger competition and lower prices for consumers.”
But economists say it will be American consumers who bear the brunt of higher costs to start.
It’s unclear how much leeway the public is willing to give Trump to get past what he in the past called “a little disturbance.”
Already, little more than two months into his second term, polls show his handling of the economy is being met with pushback.
An Associated Press-NORC Center for Public Affairs Research survey published on Monday found a majority of Americans (58%) disapprove of how Trump has been handling the economy.
On his protectionist trade negotiations with other nations, specifically, 60% of Americans said they disapproved of his approach so far. It was his weakest issue in the poll among Republicans.
Trump’s GOP allies on Capitol Hill have said they’re placing trust in the president, but acknowledged there will be some uncertainty to start.
“It may be rocky in the beginning but I think this will make sense for Americans and it will help all Americans,” House Speaker Mike Johnson said at his weekly press conference on Tuesday alongside other members of Republican leadership.
Democrats, meanwhile, pledged to fight the tariffs “tooth and nail” and were trying to force a vote aimed at curtailing his authorities to impose levies on Canada.
“Trump’s done a lot of bad things. This is way up there,” Senate Minority Leader Chuck Schumer said earlier on Wednesday.
ABC News’ Mary Bruce, Katherine Faulders and Fritz Farrow contributed to this report.
