US to Impose 10 Percent Global Tariffs, Steeper Levies for Countries With High Trade Barriers

‘For decades, our country has been looted, pillaged, raped, and plundered by nations near and far, both friend and foe alike,’ Trump said.

A car hauler truck makes its way to the Ambassador Bridge to cross into Detroit from Windsor, Canada, on April 1, 2025. President Donald Trump has been referring to April 2 as “Liberation Day,” when his administration will begin implementing sweeping new tariffs on goods imported into the United States from other countries. Bill Pugliano/Getty Images

The United States will implement a 10 percent across-the-board tariff on all imports as part of the Trump administration’s reciprocal tariffs on all nations.

President Donald Trump unveiled sweeping reciprocal tariffs at the White House Rose Garden on April 2, calling it the United States’ “declaration of economic independence” and one of the most important days in U.S. history. The president signed an executive order to put the plan in motion after the announcement.

“Reciprocal. That means they do it to us, and we do it to them. Very simple. Can’t get any simpler than that,” he said.

“For decades, our country has been looted, pillaged, raped, and plundered by nations near and far, both friend and foe alike.”

The United States will implement a baseline tariff rate of 10 percent, which will go into effect on April 5 at 12:01 a.m. Higher reciprocal rates will be imposed on countries on the “worst offenders” list. These will take effect on April 9 at 12:01 a.m.

The list includes a 34 percent levy on China on top of the existing 20 percent tariff. This brings the total levy on Chinese goods to 54 percent. Also on the list are European Union with a 20 percent tariff and Vietnam with a 46 percent tariff.

Tariffs will be implemented through the International Emergency Economic Powers Act (IEEPA), a 1977 law authorizing the president to impose trade restrictions on foreign countries.

Trump invoked this act in February and implemented tariffs on Canada, Mexico, and China, alleging illicit drug and illegal immigration threats.

White House officials say there have been unfair trade practices and a lack of reciprocity by U.S. trade partners. These actions have fueled massive trade deficits, “undermining our national and economic security,” according to officials.

Last year, the United States registered a record $1.2 trillion goods trade deficit.

While the administration seeks to address high tariff rates, officials say that the bigger problem is other countries’ non-tariff barriers. The White House identified various examples of how foreign governments utilize non-monetary trade restrictions.

China, for example, will circumvent tariffs by relying on a “going out” strategy using third-party countries such as Cambodia, Indonesia, Thailand, and Vietnam.

“The problem with Vietnam is not their tariffs,” a White House official said on a call with reporters before Trump’s “Make America Wealthy Again” event. “The problem is everything else they do, including setting up shop for Communist China to send us things.”

Israel, which announced it would eliminate remaining tariffs on U.S. goods, engages in intellectual property theft of U.S. pharmaceutical manufacturing, the official said.

Officials pointed to several countries that place restrictions on U.S. agricultural exports. Brazil requires licenses to import agricultural goods. Australia bans U.S. beef, and Mexico limits the amount that can enter the country.

Overall, the administration says the president wants to “pursue reciprocal trade together.”

“This is something where we can start to reshore our manufacturing,” an official said. “Our farmers can have the fair treatment they deserve in other countries.”

Market Reaction

Although U.S. stocks finished the April 2 session in positive territory, the financial markets slumped in after-hours trading after the president announced details of his tariff plans.

The tech-driven Nasdaq Composite Index plunged by about 500 points, or 2.5 percent.

The broader S&P 500 declined by nearly 90 points, or 1.5 percent.

The blue-chip Dow Jones Industrial Average fell by about 200 points, or 0.5 percent.

U.S. Treasury yields were mixed, with the benchmark 10-year at about 4.14 percent.

The U.S. dollar index, a gauge of the dollar against a weighted basket of currencies, tumbled by 0.25 percent.

‘The Big One’

Trump first mentioned his sweeping reciprocal tariffs in February, preparing the public on social media platform Truth Social for “the big one.”

At a press event from the Oval Office, Trump signed a memo dubbed the “Fair and Reciprocal Plan.” This established a roadmap for imposing reciprocal tariffs on all nations that charge the United States import duties.

According to data from the U.S. Trade Representative, the United States maintained a weighted average import tariff rate of about 2 percent.

Trump also ordered officials to produce reports determining appropriate tariff levels for each affected country.

The U.S. Trade Representative released the 2025 National Trade Estimate Report, a comprehensive examination of barriers installed by trading partners and the hurdles that U.S. exports must overcome.

Since the February announcement, the White House has presented mixed messages regarding the president’s tariff plans.

Treasury Secretary Scott Bessent has stated that the United States could target countries with persistent trade deficits, also known as the “dirty 15.” These are the 15 percent of nations that trade significantly with the United States and have immense trade deficits.

“Going into April 2, some of our worst trading partners in terms of the way they treat us have already come to President Trump offering substantial decreases in very unfair tariffs,” Bessent said in a March 18 interview with Fox News host Maria Bartiromo.

Bessent noted that some tariffs may not be implemented because of pre-negotiated agreements and said that some countries will discuss lowering levies once they receive their reciprocal tariff number.

Some countries have already responded to the president’s reciprocal tariff plans. India has indicated that it is willing to slash tariff rates on half of U.S. imports. Vietnam has lowered import duties on a range of U.S. products entering the Southeast Asian country. Israel has confirmed it will remove the remaining tariffs on U.S. products.

Later, Trump would confirm that reciprocal tariffs would target all countries, although he might be a bit more lenient.

“I may give a lot of countries breaks,” he told reporters at a news conference, indicating that some countries have charged the United States so much that they could not handle higher tariff rates.

“I don’t think they could take it,” the president said. “In other words, they’ve charged us so much that I’m embarrassed to charge them what they’ve charged.”

Recession, Inflation Fears

Recession and inflation fears have gripped Main Street and Wall Street for several weeks.

U.S. stocks have plunged on tariff-fueled concerns, consumer sentiment has tanked, and expectations of slower economic growth and higher prices have intensified.

Trump and administration officials have largely dismissed the prevalence of inflation and recession forecasts.

“I don’t see [a recession] at all,” he told reporters at a White House event last month. “I think this country is going to boom. I think we’re going to have the greatest markets we’ve ever had.”

Commerce Secretary Howard Lutnick said on NBC’s “Meet the Press” that Americans should “absolutely not” brace for a recession.

“There’s going to be no recession in America. Global tariffs are going to come down because President Trump has said: ‘You want to charge us 100 percent? We’re going to charge you 100 percent,'” Lutnick stated.

“So if Donald Trump is bringing growth to America, I would never bet on recession—no chance.”

As for prices, Bessent said he thinks there might be a one-time adjustment, but he said he is not worried about inflation “across a continuum.”

Lutnick said he expects “distortions” in the global marketplace as tariffs are enacted.

“Foreign goods may get a little more expensive. But American goods are going to get cheaper, and you’re going to be helping Americans by buying American,” he said.

Economic observers have sought clarity since the reciprocal tariff plans were released.

“Now we wait for clarity and hope we can get some on the tariff front,” Jay Woods, chief global strategist at Freedom Capital Markets, said in a note emailed to The Epoch Times.

“The lack of certainty and the shroud of secrecy have been driving the market insane.”