US President Donald Trump on Wednesday speaking in the Rose Garden of the White House, presented his plan for global tariffs, which he promises will free the United States from foreign goods.
Let the trade wars begin
Tables with a list of 185 states on whose imported products the US administration would impose reciprocal customs tariffs, Trump published on his page on the social network Truth Social.
The basic tariff will be 10 per cent, but for quite a number of states it turned out to be higher. Thus, tariffs on goods from China will be 34 per cent, from EU countries – 20 per cent, from Switzerland – 31 per cent, from the UK – 10 per cent, from Israel – 17 per cent, from Kazakhstan – 27 per cent. Some of the highest levies are imposed on Vietnam (46 per cent), Cambodia (49 per cent), Laos (48 per cent).
Russia, Mexico, Iran, Canada and Belarus are not on the list. At the same time, Washington decided to impose a 10 per cent trade tariff on goods from Ukraine.
A 10 per cent tariff was introduced for most of the post-Soviet countries, except for Moldova (31 per cent) and Kazakhstan. Armenia, Azerbaijan, Georgia, Uzbekistan, Turkmenistan, Kyrgyzstan, Tajikistan – 10 per cent.
Trump also signed an order to impose tariffs of 25 per cent on imports of cars, slight trucks and auto parts.
Declaration of economic independence
The White House chief called the imposition of the tariffs “a declaration of economic independence” and considered that April 2 would go down in history as “the day of the rebirth of American industry.” He warned that leaders of countries that would call and ask to remove the tariffs would be advised to lift their tariffs.
Trump said that “friends and enemies of the United States” had been plundering the US economy for decades, but with the introduction of mirror tariffs, that was “coming to an end.” He said it would lead to a “golden age” for the US economy and “jobs and factories will return to the country.”
He said Washington would use “trillions of dollars” of the proceeds from mirror tariffs to cut taxes and pay down the national debt, all happening “very quickly.”
“For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now, it’s our turn to prosper, and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt and it will all happen very quickly. With today’s action, we are finally going to be able to Make America Great Again — greater than ever before,” the American president said.
It is reported that the 10 per cent basic tariff will take effect from April 5, with “mirror” tariffs for a number of countries starting on the 9th. Trump has warned that he may change the size of the tariffs.
Trump’s tariffs called “a major blow” to global economy
European Commission President Ursula von der Leyen said on Thursday that US President Donald Trump’s recently announced retaliatory tariffs against countries around the world are a “major blow” to the global economy, warning it will be “hit hard.”
“President Trump’s announcement of universal tariffs on the whole world, including the European Union, is a major blow to the world economy. I deeply regret this choice,” von der Leyen told a news conference. She also added:
“The global economy will massively suffer. Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe, also for the most vulnerable countries, which are now subject to some of the highest US tariffs, the opposite of what we want to achieve.”
She warned that inflation would rise, affecting the most vulnerable citizens, while large and small businesses would face more uncertainty, supply chain disruption, excessive bureaucracy and higher costs in dealing with the US.
Von der Leyen said the EU will always defend and protect its interests and values, adding that it is not too late to resolve problems through dialogue and negotiation.
Canadian Prime Minister Mark Carney said retaliatory tariffs announced by US President Donald Trump would fundamentally change the international trading system. He said the US has signalled that it may impose tariffs on pharmaceuticals, timber and semiconductors. Canada’s prime minister added that the government “will have something to say” after attending a series of meetings with key stakeholders tonight and tomorrow.
Meanwhile, UK Trade and Enterprise Minister Jonathan Reynolds said the United Kingdom will continue to push for a trade deal with the US.
Irish Prime Minister Michael Martin said in a video posted on social media that Ireland will work with the European Union to reach “a negotiating path with the US to limit the damage from these tariffs.”
Danish Foreign Minister Lars Løkke Rasmussen believes that no one will benefit from the tariffs imposed.
Meanwhile, Italian Prime Minister Giorgia Meloni called the tariffs imposed by Trump “wrong.” In her opinion, they will not benefit the US.
Spanish Prime Minister Pedro Sanchez said, “Spain will protect its companies and workers and will continue to strive for an open world.”
Polish Prime Minister Donald Tusk wrote on social media that “friendship means partnership” and “partnership means truly reciprocal tariffs.”
Norwegian Trade and Industry Minister Cecilie Myrseth told Norwegian state broadcaster NRK that the effects of the tariffs are still being analysed.
Swedish Prime Minister Ulf Kristersson said on social media that his country “will continue to advocate for free trade and international co-operation.”
Meanwhile, Australian Prime Minister Anthony Albanese said during a press conference that Trump’s tariffs are not unexpected, but they are completely “unjustified.”
New Zealand Trade Minister Todd McClay said the US imposition of tariffs would impact New Zealand exporters, some of whom may turn their attention to other markets. According to him, New Zealand is not going to impose retaliatory tariffs on the US.
Jean-Luc Mélenchon, leader of France Unbowed (LFI), wrote on X:
“Mr Trump has decided to go on a customs offensive. He is challenging several borders. The United States is preparing a military strike to support the war economy. So I call on any Social Democrat to explain what their vision is. What is their response to the United States We put forward alternative proposals for world order.”
Earlier, the head of European diplomacy Kaja Kallas said that the European Union will defend its interests if US President Donald Trump imposes 200% tariffs on alcohol from the bloc’s countries.
