Washington:US President Donald Trump on Wednesday acted on his campaign promises to “build that wall” and announced a raft of tariffs targeting countries around the world, including some of America’s closest trading partners, in a move that risks sparking a ruinous trade war.
Speaking in the White House Rose Garden, the American commander-in-chief set out plans for most stinging import taxes, ranging from 10 per cent to more than 49 per cent on what he called “Liberation Day.”
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said.
The President reserved some of the heaviest blows for what he called the “nations that treat us badly,” including 34 percent on goods from superpower rival China, 26 per cent on India, 24 percent on Japan and 20 percent on key ally the European Union.
But the 78-year-old Republican — who held up a chart with a list of levies — said that he was “very kind” and so was only imposing half the amount that those countries taxed US exports.
For the rest, Trump said he would impose a “baseline” tariff of 10 percent, including Britain.
“This is Liberation Day,” Trump said, adding that it would “forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed.”
Sweeping auto tariffs of 25 percent that Trump announced last week are also due to take effect at 12:01 am Thursday.
Here Is The List Of New Tariff Rates Trump Displayed
Algeria 30%
Oman 10%
Uruguay 10%
Bahamas 10%
Lesotho 50%
Ukraine 10%
Bahrain 10%
Qatar 10%
Mauritius 40%
Fiji 32%
Iceland 10%
Kenya 10%
Liechtenstein 37%
Guyana 38%
Haiti 10%
Bosnia and Herzegovina 35%
Nigeria 14%
Namibia 21%
Brunei 24%
Bolivia 10%
Panama 10%
Venezuela 15%
North Macedonia 33%
Ethiopia 10%
Chana 10%
Country U.S. reciprocal tariffs
China 34%
European Union 20%
Vietnam 46%
Taiwan 32%
Japan 24%
India 26%
South Korea 25%
Thailand 36%
Switzerland 31%
Indonesia 32%
Malaysia 24%
Cambodia 49%
United Kingdom 10%
South Africa 30%
Brazil 10%
Bangladesh 37%
Singapore 10%
Israel 17%
Philippines 17%
Chile 10%
Australia 10%
Pakistan 29%
Turkey 10%
Sri Lanka 44%
Colombia 10%
Peru 10%
Nicaragua 18%
Norway 15%
Costa Rica 10%
Jordan 20%
Dominican Republic 10%
United Arab Emirates 10%
New Zealand 10%
Argentina 10%
Ecuador 10%
Guatemala 10%
Honduras 10%
Madagascar 47%
Myanmar (Burma) 44%
Tunisia 28%
Kazakhstan 27%
Serbia 37%
Egypt 10%
Saudi Arabia 10%
El Salvador 10%
Côte d’Ivoire 21%
Laos 48%
Botswana 37%
Trinidad and Tobago 10%
Morocco 10%