President Donald Trump on Wednesday revealed a long promised, swept set of baseline tariffs on all trading partners, and what he described as “friendly mutual” tariffs on nations as he claimed were the worst offenders in trade with the United States
“My Co -Americans, this is the Day of Liberation,” Trump said from the White House Rose Garden, claiming the action will free the United States from dependence on foreign goods.
“April 2, 2025 will forever be remembered when the day the American industry was reborn, the day the fate of America was regained, and the day we began to make America wealthy again,” he said.
The new measures – as Trump described as “historic” – include a minimum basicratariff of 10% on all trading partners and further, more targeted punishing charges in certain countries, including China, European Union and Taiwan.
“We will charge them about half of what they are and have charged us,” he said, adding, “because we are very friendly.”
“This is not fully mutual. This is kindly mutual,” he said.
Trump held a chart with a list of nations and what the new American customs against them will be. At the top was China, as Trump said, was set to be hit with a 34%tariff rate when he claimed it charged the United States 67%. (The new 34% duty would be on top of a 20% US customs in China already into effect – which brings the total duty to 64%, according to Trump’s senior adviser for Trade Peter Navarro.)
President Donald Trump speaks during an event to advertise new tariffs in Rose Garden in the White House, April 2, 2025, in Washington, DC
Mark Schiefelbein/AP
The baseline duty degree of 10% comes into force on April 5, according to senior officials in the White House. The “friendly mutual” tariffs take effect on April 9 at. 12:01, said officials, and will affect approx. 60 countries.
The “mutual” tariffs are not only based on what was erected on the chart, but also on alleged currency manipulation and trading barriers.
Trump described trade deficits as a “national emergency” and that his actions will initiate what he called “the golden age of America.”
“In short, chronic trade deficit is no longer just a financial problem. They are a national emergency that threatens our security and our lifestyle. It is a very huge threat to our country,” he said.
Wednesday’s customs announcement is for a moment months in progress for the president, but one that comes with significant political and financial risk.
Some experts warn that his movements could make the economy slip into a recession, and the markets have been seen ahead of Wednesday’s announcement, after weeks of turmoil as Trump’s customs policy changed and took shape.
The White House had been a mother about details ahead of Wednesday’s event. A senior official said the situation was “still very fluid” after meetings on Wednesday morning and that Trump and his top advisers were trying to find a common ground where they agreed.
Some opportunities discussed in recent weeks, ABC News Senior reported the White House Correspondent Selina Wang, was a 20% flat tariff on all imports; Different customs levels for each country based on their taxes on US products; or tariff rates of approx. 15% of countries with the largest trade imbalances with the US
President Donald Trump signs an executive order for tariffs at Rose Garden in the White House in Washington, DC, April 2, 2025.
Leah Millis/Reuters
Wednesday’s tariffs are based on charges already imposed by the administration, including on steel and aluminum as well as certain items from China, Canada and Mexico.
The actions have strained the relations with Canada and Mexico, two important allies and neighbors. Prime Minister Mark Carney said last week that the US and Canada’s deep conditions on economic, security and military issues were effective.
Canada has promised retaliation and Mexico said it will give its answer later this week. The European Union also said it has a “strong plan in retaliation.”
But Trump and administrative officials are plowing full steam forward, arguing that America has been unfairly “torn off” by other nations for years, and it’s time for reciprocity.
“For decades, our country has been looted, looted, raped and looted by nations near and far, both friend and enemy,” Trump said Wednesday.
President Donald Trump speaks during a trade announcement in Rose Garden in the White House, April 2, 2025, in Washington, DC
Chip asodevilla/Getty Images
President Donald Trump speaks on the day of his comments on Customs in Rose Garden in the White House in Washington, DC, April 2, 2025.
Carlos Barria/Reuters
The chart he held up had a column that showed what it called tariffs that were imposed on what Trump suggested were the top five insulting countries next to another column with what it said was the United States “reduced mutual tariffs” against them.
They include:
- China of 67% compared to 34%
- The European Union of 39% compared to 20%
- Vietnam of 90% compared to 46%
- Taiwan of 64% compared to 32%
- Japan of 46% compared to 24%
The list contains a massive 44% duty on Myanmar, currently rolled from a devastating earthquake and says the country is imposing an 88% duty on the US
Economy was the top question for voters in the presidential election in 2024, when Americans blamed President Joe Biden for high awards and Trump promised to bring families financial relief.
The administration has painted tariffs as a universal means of the economy written, arguing that any pain experienced in the short term will be offset by what they predict will be major increase in production, job growth and government revenue.
“Jobs and factories are roaring back into our country and you are already seeing it happen. We surpass our domestic industrial base,” Trump said. “We will let open foreign markets and break down foreign trade barriers. And in the end, more production at home will mean stronger competition and lower prices for consumers.”
But economists say it will be American consumers who carry the majority of higher costs to start.
It is unclear how much leeway the public is willing to give Trump to get past what he previously called “a little disturbance.”
Already, a little more than two months after his second period, polls show that 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%) rejects how Trump has handled the economy.
On his protectionist trade negotiations with other nations, 60% of Americans said they rejected his approach so far. It was his weakest question in the vote among Republicans.
The house Mike Johnson takes questions about tariffs while meeting with journalists at a news conference, at Capitol, in Washington, April 1, 2025.
J. Scott AppleWhite/AP
Trump’s GOP allies at Capitol Hill have said they put confidence in the president, but acknowledged that there will be some uncertainty to start.
“It may be stoned at first, but I think it will make sense to Americans, and it will help all Americans,” the house’s speaker Mike Johnson said at his weekly press conference on Tuesday with other Republican leadership members.
Democrats, meanwhile, promised to fight the duty “tooth and nail” and tried to force a vote aimed at restricting its authorities to impose Canada.
“Trump has done a lot of bad things. This is far up there,” said Senate’s minority leader Chuck Schumer earlier Wednesday.
ABC News’ Mary Bruce, Katherine Faulders and Fritz Farrow contributed to this report.
