President Trump announces tariffs on major trading partners, up to 54%

US President Donald Trump signs an executive order at the White House in Washington on January 31, 2025. File photo: REUTERS/TTXVN

US President Donald Trump announced a wide-ranging set of tariffs on America's largest trading partners on April 2, local time, pledging to carry out the biggest reorganization of the global economy since World War II, according to NBC.

Importers looking to bring goods into the US from other countries will now face tariffs of up to 54%, based on how the White House calculates US export duties, as well as non-currency trade barriers against countries accused of manipulating their currencies or being “pollution havens”.

The result is a new tariff list that would impose massive tariffs on trillions of dollars of trade. China, America’s largest trading partner, would be hit with a 54% tariff (an additional 34% on top of the current 20% tariff, for a total of 54%), the European Union (EU) would be hit with a 20% tariff, India would be hit with a 26% tariff, Japan would face a 24% tariff, and many other countries would be on the list.

It remains unclear how Mr Trump and the White House calculated these figures. A document listing the tariffs only says that they include factors such as “currency manipulation and trade barriers”.

Immediately after Mr. Trump's announcement, the US stock market immediately reversed sharply. In the after-hours trading session, S&P 500 futures fell 1.5%.

According to Tin Tuc Newspaper

Source: https://doanhnghiepvn.vn/kinh-te/tong-thong-trump-cong-bo-muc-thue-quan-voi-cac-doi-tac-thuong-mai-lon-cao-nhat-len-toi-54/20250403071431572