Trump Hikes General Import Tariff to 10%, 24% for Japan, 20% EU

President of the United States of America, Donald Trump, on Wednesday announced that his government will impose a 10% tariff on all imports and much higher rates for some nations as a stark shift in U.S. trade policy.

He made this known at the Rose Garden ceremony during a live broadcast, “Liberation Day” for U.S. trade policy. The plan combines two concepts debated by aides—a universal tariff and nation-specific duties.

There is a 10% baseline tariff. These are across-the-board levies on all imports, effective April 5.

Other nations will be hit with what Trump called a “discounted reciprocal tariff.” The higher rates are for nations the White House considers bad actors on trade. For example, duties will be 24% on Japan and 20% on the European Union, in lieu of the universal 10% tariff, effective April 9. The EU said it is preparing fresh countermeasures if negotiations fail.

A new 34% tariff on China will add to previous duties, like the 20% tariff Trump imposed over fentanyl. The base tariff rate on Chinese imports will be 54%, before adding tariffs imposed during Joe Biden’s presidency or Trump’s first term. Beijing said it would take measures in response to the new tariffs.

Canada and Mexico are excluded from the reciprocal tariff regime. They are still subject to plans to impose 25% tariffs on most imports to the U.S. for what Trump says is their role in fueling the fentanyl crisis and illegal immigration. An exemption for these levies on autos and many other goods was in place but due to expire on April 2.

Trump’s 25% tariffs on foreign-made automobiles took effect at 12:01 a.m. ET.