Which countries will get the biggest tariffs from President Trump?

Unveiling his new proposals for trade tariffs on Wednesday, President Donald Trump claimed that his policies represented “a declaration of economic independence” for the United States.

“My fellow Americans, this is Liberation Day. We’ve been waiting for a long time,” he said, addressing a crowd of cabinet members, workers and reporters in the White House’s Rose Garden.

But breaking from predictions, Trump said that his “reciprocal tariffs” would equate to “approximately half” of what other nations are imposing on the US. This means that different countries will have very different levels of tariffs levied against their imports.

Gesturing towards a large graphic, Trump showed that China charges the US a tariff of 67% so he will respond with a 34% tariff for China. The United Kingdom fared well in Trump’s speech, receiving a reciprocal tariff rate of 10%. The display also included plans for the European Union, 20% tariff; Vietnam, 46% tariff; Taiwan, 32%; Japan, 24%; India, 26%; South Korea, 25%; and Thailand, 36%.

Why has Trump introduced new tariffs?

Back in February Trump signed a memorandum calling for all major US trading partners to receive “fair and reciprocal” trade tariffs, shocking long-term allies. Trump gave Howard Lutnick, then-nominee for commerce secretary, and global trade representative Jamieson Greer six months to produce a country-by-country report.

“I’ve decided, for purposes of fairness, that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America,” Trump warned. “In almost all cases, they’re charging us vastly more than we charge them, but those days are over.”

In that speech Trump hinted that additional import taxes could be levied on pharmaceuticals, cars and semi-conductors, in addition to the reciprocal tariffs. Those extra measures are yet to full materialise but Trump looks unlikely to wait long before introducing the next round of tariffs on specific industries.

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