Trump’s Tariff Announcements and Global Reactions: A Comprehensive Guide

Trump tariffs war: United States President Donald Trump on April 2 unveiled a comprehensive tariff policy, imposing at least a 10 per cent duty on nearly all goods entering the US. Trump, 47th President of the US, announced the so called ‘reciprocal tariffs’ from the Rose Garden at the White House, and said that these tariffs are aimed at correcting trade imbalances and bolstering American industries.

What Are Trump’s Tariffs?

Reciprocal tariffs are tax or trade restrictions that one country places on another in response to similar actions taken by that country. While giving details on reciprocal tariffs, Donald Trump said, “We will charge them approximately half of what they are and have been charging us, so the tariffs will be not a full reciprocal. I could have done that, I guess, but it would have been tough for a lot of countries and we didn’t want to do that.”

However, a Bloomberg report noted that the Donald Trump's administration has calculated new tariffs primarily based on existing trade balances, instead of his pledge to match the tariff rates and other trade barriers from trading partners.

As per Donald Trump's announcement, the tariffs are as follows:

10% on most imports, higher for ‘worst offenders’
A new 10% tariff will apply to practically all imported goods.
Countries with large trade deficits with the US will face even higher rates.
Mexico and Canada are exempt, except for non-compliant goods, which will still be taxed at 25%.
The baseline 10% tariff takes effect Saturday at 12:01 am ET.
Around 60 countries will be charged tariffs equal to half the rate they impose on U.S. goods.
The targeted tariffs for "worst offenders" will go into effect at 12:01 am ET on April 9.

How do tariffs work? Who pays?

Making the announcement, Donald Trump called it “one of the most important days” in American history and describes the move akin to the “declaration of economic independence”. He added that the tariff revenue will be used to reduce taxes and pay down national debt.

So, how do tariffs work? According to Robert Gulotty, an associate professor in the Department of Political Science, at the University of Chicago, tariffs have three main objectives — raise funds for the imposer (US in this case); redistribute money from consumers towards domestic producers (by nature of being imposed on imports); and “strategically” shifting global prices.

Also Read

Trump Tariffs: European farmers warn against retaliation, call for talks

So, who ultimately pays for these tariffs? According to Rodrigo Adão, an associate professor of economics at the University of Chicago Booth School of Business, invariably, “impact of these tariffs was borne by consumers and firms inside the United States”.

He cited past research and data from the trade war in 2018, adding that American consumers will end up shelling more money for goods that are imported.

What is Section 232? What Are the National Security Implications for the US?

According to information on the US government's official Commerce Department website, “Section 232 of the Trade Expansion Act of 1962 authorises the Secretary of Commerce to conduct comprehensive investigations to determine the effects of imports of any article on the national security of the United States.”

Section 232 investigations include consideration of:

domestic production needed for projected national defense requirements;
domestic industry’s capacity to meet those requirements;
related human and material resources;
the importation of goods in terms of their quantities and use;
the close relation of national economic welfare to U.S. national security;
loss of skills or investment, substantial unemployment and decrease in government revenue; and
the impact of foreign competition on specific domestic industries and the impact of displacement of any domestic products by excessive imports.

Notably, earlier in March, Donald Trump imposed 25 per cent tariffs on steel and aluminium articles, and automobiles and auto parts. This was done under the aegis of Section 232. The White House release in February said: “President Trump is taking action to end unfair trade practices and the global dumping of steel and aluminum.”

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The day Trump’s tariff threats turned into a harsh reality for CEOs, investors

Timeline of Trump's Tariff Announcements

Here is a timeline of Trump tariffs announced by the President since he took office on January 22

January 20: Donald Trump took office on January 20 and vowed to impose tariffs and taxes on other countries to revamp US trade and make Americans rich.
First round of tariffs: Between February 1 and February 4, Trump signed an executive order imposing tariffs on goods from Mexico, Canada, and China. China was hit with a 10 per cent tariff, while Mexico and Canada faced 25 per cent tariffs each. All three countries announced retaliatory tariffs in response, which prompted Trump on February 3 to pause the tariff decision for Mexico and Canada for 30 days. On February 4, a 10 per cent tariff on Chinese imports to the US took effect.
February 10: Trump announced his plans to impose 25 per cent tariffs on steel and aluminium imports taking effect on February 10
February 13: Donald Trump announced plans for reciprocal tariffs just before his meeting with Prime Minister Narendra Modi, who committed to increase bilateral trade between New Delhi and Washington DC. Trump signalled his tariff plans on India and confirmed a 25 per cent levy on European countries.
Late February to early March: On February 25, Trump asked the Commerce Department to assess whether tariffs on imported copper are necessary. On March 1, he directed the commerce ministry to assess if tariffs on lumber and timber imports were needed. On March 4, the US imposed steep tariffs at a 25 per cent rate on Canada and Mexico, and 10 per cent on China.
March 5: On March 5, Donald Trump approved a one-month exemption from tariffs on goods imported from Mexico and Canada.
Other March tariffs: Following the US tariff hike, China retaliated with a 15 pr cent levy on on US products, including chicken, pork, soybeans, and beef. Trump on March 12 increased the tariff rates of steel and alimimium imports to 25 per cent, which invoked a counter-tariff decision from EU. On March 13, Trump threatened with a 200 per cent tariff on wine and champagne imports from European countries. The US President on March 24 announced a 25% tariff on countries purchasing oil or gas from Venezuela, effective April 2.
March 26, Auto tariffs: The auto tariffs imposed by Trump was announced on March 26, under which he proposed a 25 per cent tariff on all automobile imports.
April 2, Trump hits India with 26 per cent tariffs: Labelled as America's “Liberation Day”, Trump went ahead with a slew of tariffs on almost all nations. India was hit with a 26 per cent tariff, among the highest in the world.

The Trump Tariff Charts and Lists

President Donald Trump in his April 2 speech revealed a chart with revised tariffs that would come into effect on almost all countries including India. He announced that at least 10% reciprocal tariffs would be levied on almost all goods being imported into America. Here is an explainer on who got what tariffs.

Trump Reciprocal Tariff Chart Explained

Trump showed a chart containing the tariffs imposed on 184 nations. He unveiled particularly stinging tariffs on major trade partners China and the European Union on what he called "Liberation Day."

Trump reserved some of the heaviest blows for what he called “nations that treat us badly.”

That included an additional 34 per cent on goods from China - bringing the new added tariff rate there to 54 per cent. The figure for the European Union was 20 per cent, 26 per cent on India and 24 per cent on Japan. For the rest, Trump said he would impose a "baseline" tariff of 10 per cent, including Britain.

The Office of the US Trade Representative on Monday provided an encyclopedic list of foreign countries' policies and regulations it regards as barriers, calling out India's customs barriers, import curbs and licenses, alongside high tariffs. The USTR report released Monday on foreign trade barriers listed import bans and restrictions, product registration requirements, and technical and sanitary barriers among the issues.

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Trump Tariff News LIVE: India says exploring trade opportunities amid tariffs

In another report on Wednesday, the USTR said that reciprocal tariff rates range from 0 per cent to 99 per cent, with unweighted and import-weighted averages of 20 per cent and 41 per cent.

Here is the full USTR report released Wednesday.

Trump Tariffs: Proposed vs actual reciprocal tariffs

No.	Country	Tariff (%)	Actual Tariff (%)
1	China	34	34
2	European Union	20	20
3	Vietnam	46	46
4	Taiwan	32	32
5	Japan	24	24
6	India	26	27
7	South Korea	25	26
8	Thailand	36	37
9	Switzerland	31	32
10	Indonesia	32	32
11	Malaysia	24	24
12	Cambodia	49	49
13	United Kingdom	10	10
14	South Africa	30	31
15	Brazil	10	10
16	Bangladesh	37	37
17	Singapore	10	10
18	Israel	17	17
19	Philippines	17	18
20	Chile	10	10
21	Australia	10	10
22	Pakistan	29	30
23	Turkey	10	10
24	Sri Lanka	44	44
25	Colombia	10	10
26	Peru	10	10
27	Nicaragua	18	19
28	Norway	15	16
29	Costa Rica	10	10
30	Jordan	20	20
31	Dominican Republic	10	10
32	United Arab Emirates	10	10
33	New Zealand	10	10
34	Argentina	10	10
35	Ecuador	10	10
36	Guatemala	10	10
37	Honduras	10	10
38	Madagascar	47	47
39	Myanmar (Burma)	44	45
40	Tunisia	28	28
41	Kazakhstan	27	27
42	Serbia	37	38
43	Egypt	10	10
44	Saudi Arabia	10	10
45	El Salvador	10	10
46	Côte d’Ivoire	21	21
47	Laos	48	48
48	Botswana	37	38
49	Trinidad and Tobago	10	10
50	Morocco	10	10
51	Algeria	30	30
52	Oman	10	10
53	Uruguay	10	10
54	Bahamas	10	10
55	Lesotho	50	50
56	Ukraine	10	10
57	Bahrain	10	10
58	Qatar	10	10
59	Mauritius	40	40
60	Fiji	32	32
61	Iceland	10	10
62	Kenya	10	10
63	Liechtenstein	37	37
64	Guyana	38	38
65	Haiti	10	10
66	Bosnia and Herzegovina	35	36
67	Nigeria	14	14
68	Namibia	21	21
69	Brunei	24	24
70	Bolivia	10	10
71	Panama	10	10
72	Venezuela	15	15
73	North Macedonia	33	33
74	Ethiopia	10	10
75	Ghana	10	10
76	Moldova	31	31
77	Angola	32	32
78	Democratic Republic of the Congo	11	11
79	Jamaica	10	10
80	Mozambique	16	16
81	Paraguay	10	10
82	Zambia	17	17
83	Lebanon	10	10
84	Tanzania	10	10
85	Iraq	39	39
86	Georgia	10	10
87	Senegal	10	10
88	Azerbaijan	10	10
89	Cameroon	11	12
90	Uganda	10	10
91	Albania	10	10
92	Armenia	10	10
93	Nepal	10	10
94	Sint Maarten	10	10
95	Falkland Islands	41	42
96	Gabon	10	10
97	Kuwait	10	10
98	Togo	10	10
99	Suriname	10	10
100	Belize	10	10
101	Papua New Guinea	10	10
102	Malawi	17	18
103	Liberia	10	10
104	British Virgin Islands	10	10
105	Afghanistan	10	10
106	Zimbabwe	18	18
107	Benin	10	10
108	Barbados	10	10
109	Monaco	10	10
110	Syria	41	41
111	Uzbekistan	10	10
112	Republic of the Congo	10	10
113	Djibouti	10	10
114	French Polynesia	10	10
115	Cayman Islands	10	10
116	Kosovo	10	10
117	Curaçao	10	10
118	Vanuatu	22	23
119	Rwanda	10	10
120	Sierra Leone	10	10
121	Mongolia	10	10
122	San Marino	10	10
123	Antigua and Barbuda	10	10
124	Bermuda	10	10
125	Eswatini	10	10
126	Marshall Islands	10	10
127	Saint Pierre and Miquelon	50	50
128	Saint Kitts and Nevis	10	10
129	Turkmenistan	10	10
130	Grenada	10	10
131	Sudan	10	10
132	Turks and Caicos Islands	10	10
133	Aruba	10	10
134	Montenegro	10	10
135	Saint Helena	10	10
136	Kyrgyzstan	10	10
137	Yemen	10	10
138	Saint Vincent and the Grenadines	10	10
139	Niger	10	10
140	Saint Lucia	10	10
141	Nauru	30	30
142	Equatorial Guinea	13	13
143	Iran	10	10
144	Libya	31	31
145	Samoa	10	10
146	Guinea	10	10
147	Timor-Leste	10	10
148	Montserrat	10	10
149	Chad	13	13
150	Mali	10	10
151	Maldives	10	10
152	Tajikistan	10	10
153	Cabo Verde	10	10
154	Burundi	10	10
155	Guadeloupe	10	10
156	Bhutan	10	10
157	Martinique	10	10
158	Tonga	10	10
159	Mauritania	10	10
160	Dominica	10	10
161	Micronesia	10	10
162	Gambia	10	10
163	French Guiana	10	10
164	Christmas Island	10	10
165	Andorra	10	10
166	Central African Republic	10	10
167	Solomon Islands	10	10
168	Mayotte	10	10
169	Anguilla	10	10
170	Cocos (Keeling) Islands	10	10
171	Eritrea	10	10
172	Cook Islands	10	10
173	South Sudan	10	10
174	Comoros	10	10
175	Kiribati	10	10
176	São Tomé and Príncipe	10	10
177	Palau	10	10
178	Wallis and Futuna	10	10
179	Saint Barthelemy	10	10
180	Saint Martin (French part)	10	10
181	American Samoa	10	10
182	Fiji	10	10
183	Tuvalu	10	10
184	Vanuatu	10	10

Full Trump Tariff List by Country and Product

Here is a list of tariffs that have been already implemented

Steel and Aluminium products: 25% tariff on India and other countries
Automobile imports: 25% tariff from all countries
Canada: 25% tariffs on Canadian products including maple syrup
Mexico: 25% tariffs on Mexican products including agricultural goods

Global Responses to Trump's Tariffs

India's Ministry of Commerce said in a statement that it is carefully examining the implications of the tariffs. “The US President issued an Executive Order on Reciprocal Tariffs imposing additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners. The baseline duty of 10% will be effective from April 05, 2025, and the remaining country-specific additional ad valorem duty will be effective from April 09, 2025. The additional duty on India, as per Annex I of the Executive Order, is 27 per cent,” the commerce ministry said.

On Thursday, China called on the United States to cancel its latest tariffs immediately and vowed to take countermeasures to safeguard its economy. “China firmly opposes this and will take countermeasures to safeguard its own rights and interests,” it said.

Sri Lanka warned that the announcement would threaten thousands of jobs in the country. “The tariff level is extremely high relative to our regional competitors,” said Yohan Lawrence, head of the Joint Apparel Association Forum (JAAF).

“As the global trade war has become a reality, the government must pour all its capabilities to overcome the trade crisis," Reuters quoted South Korean acting President Han Duck Soo as saying.

“The (Trump) administration's tariffs have no basis in logic and they go against the basis of our two nations' partnership. This is not the act of a friend. Today's decision will add to uncertainty in the global economy and it will push up costs for American households," said Australian Prime Minister Anthony Albanese.

EU and UK Response to Trump's Trade Measures

European Commission President Ursula von der Leyen called Trump's reciprocal tariffs a major blow to the world economy. “We are already finalising the first package of countermeasures in response to tariffs on steel,” she said.

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Meanwhile, the United Kingdom said it believed a trade deal with the United States was close as it sought to soften the impact of Trump tariffs. London said that decision vindicated its approach of trying to strike a new economic partnership with the US, rather than meeting fire with fire.

Britain's business minister Jonathan Reynolds said the country, as an outward-facing economy, was “exposed not just to decisions between ourselves and the United States, but that wider global environment”.

Why No Tariffs on Russia?

Interestinly, Russia was not a part of the chart that the White House unveiled on Wednesday. When asked about the same, White House press secretary Karoline Leavitt told Axios that the omission of Russia was due to US sanctions that have been already imposed on the country, adding that the Vladimir Putin-led nation has sanctions that “preclude any meaningful trade”.

FAQs About Trump’s Tariff Policies

1. Who pays for tariffs — consumers or countries?

According to Rodrigo Adão, an associate professor of economics at the University of Chicago Booth School of Business, invariably, “impact of these tariffs was borne by consumers and firms inside the United States”.

2. Are Trump’s tariffs still active today?

Yes, Trump's auto tariffs have been implemented since April 2. His other tariffs on Canada, China and more countries have been already in place. According to reports, the new reciprocal tariffs will become active on April 5 and April 9.

3. What’s the difference between tariffs and sanctions?

Tariffs have three main objectives — raise funds for the imposer (US in this case); redistribute money from consumers towards domestic producers (by nature of being imposed on imports); and “strategically” shifting global prices. In contrast, sanctions are intended to shut down imports or exports to a country by imposing trade restrictions or shutting down trade.

4. How did farmers and manufacturers react?

The American Farm Bureau Federation has expressed concerns that increased tariffs will threaten the economic sustainability of farmers. Meanwhile, the National Farmers Union has expressed that “American family farmers and ranchers will bear the brunt of this global trade war”. Jay Timmons, president and CEO of the National Association of Manufacturers called the tariffs “complicated”.

Trump’s Tariff Announcements and Global Reactions: A Comprehensive Guide | Today News (2025)

What Are Trump’s Tariffs?

How do tariffs work? Who pays?

What is Section 232? What Are the National Security Implications for the US?

Timeline of Trump's Tariff Announcements

The Trump Tariff Charts and Lists

Trump Reciprocal Tariff Chart Explained

Trump Tariffs: Proposed vs actual reciprocal tariffs

Full Trump Tariff List by Country and Product

Global Responses to Trump's Tariffs

EU and UK Response to Trump's Trade Measures

Why No Tariffs on Russia?

FAQs About Trump’s Tariff Policies

1. Who pays for tariffs — consumers or countries?

2. Are Trump’s tariffs still active today?

3. What’s the difference between tariffs and sanctions?

4. How did farmers and manufacturers react?