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Briefing|Trump Unveiled Sweeping Tariffs on Nearly All Imports
https://www.nytimes.com/2025/04/02/briefing/trump-global-tariffs-val-kilmer-great-dane.html
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President Trump announced this afternoon that he would impose new tariffs of at least 10 percent on all goods imported into the U.S. from every country other than Canada and Mexico. He also promised steep additional levies on dozens of countries that he claimed had been unfairly taking advantage of America. Here’s the latest.
Together, the new tariffs are by far Trump’s most expansive to date. They include a 34 percent fee on goods from China — on top of the 20 percent already placed on Beijing — as well as a 20 percent fee on goods from the E.U. Once in place, they are likely to upend global trade and incite retaliation. My colleagues are covering the reaction from around the world.
“Many people had been expecting the president to announce high tariffs today, but the numbers that he just revealed are stunning,” our trade reporter Ana Swanson said. “That will likely force some manufacturing back into the U.S., but also raise costs for American consumers and manufacturers.”
White House officials said that the 10 percent base line tariffs will go into effect on Saturday, and the additional “reciprocal” rates on April 9. Canada and Mexico will not be hit by the new measures, though they will continue to be subject to a 25 percent tariff that Trump imposed on many of their products last month, in addition to separate global tariffs on steel, aluminum and cars.
Trump, who has described tariffs as “the greatest thing ever invented,” seemed to relish detailing the high fees. He described the rollout event in the Rose Garden as one of the most important moments in American history.
Many economists — even those who say Trump has a point about America’s unfair trade relationships — warn that the tariffs could cause substantial collateral damage and backfire on the president’s goals for jobs, manufacturing and the economy. The E.U., for example, could strike back against the U.S. service sector. The early market reaction pointed to a further slide in the stock market and a weakening dollar.
