Donald Trump Tariffs Announcement Live: The Donald Trump administration unveiled ‘Liberation Day’ tariffs on Thursday (Indian time), a move that could upend decades of rules-based trade, risk cost increases and spark a global trade war.
While Trump insisted he had decided on the reciprocal tariffs hitting countries that have targeted the United States, the White House admitted he was still ironing out the details with less than 24 hours to go.
The new duties are due to take effect immediately after Trump announces them, while a separate 25 per cent global tariff on auto imports will take effect on April 3.
Trump has said his reciprocal tariff plans are a move to equalise generally lower US tariff rates with those charged by other countries and counteract their non-tariff barriers that disadvantage US exports.
In just over 10 weeks since taking office, Trump has imposed new 20 per cent duties on all imports from China over fentanyl and fully restored 25 per cent duties on steel and aluminum, extending these to nearly $150 billion worth of downstream products.
