Here’s a closer look at Trump’s tariff plan: What to know about the new duties

President Donald Trump laid retired his plans for imposing a big of caller tariffs connected imports to the U.S. Wednesday — a time his medication touted arsenic "Liberation Day" and vowed would reconstruct the American dream. 

Trump unveiled the caller tariffs successful a ceremonial astatine the White House’s Rose Garden for a "Make America Wealthy Again" event, wherever helium declared that these caller duties would usher successful a question of jobs for U.S. workers. 

"For nations that dainty america badly, we volition cipher the combined complaint of each their tariffs, nonmonetary barriers and different forms of cheating," Trump said Wednesday. 

"And due to the fact that we are being precise kind, we volition complaint them astir fractional of what they are and person been charging us," helium said. "So, the tariffs volition beryllium not a afloat reciprocal. I could person done that. Yes. But it would person been pugnacious for a batch of countries."

THESE ARE THE ‘DIRTY 15’ COUNTRIES TRUMP MIGHT TARGET WITH LIBERATION DAY TARIFFS

Secretary of Commerce Howard Lutnick holds a illustration arsenic President Donald Trump speaks during an lawsuit to denote caller tariffs successful the Rose Garden astatine the White House connected April 2, 2025.  (Mark Schiefelbein/The Associated Press )

The Trump administration’s tariff program sets retired a baseline work of 10% connected each imports to the U.S., portion customized tariffs volition beryllium acceptable for countries who person higher tariffs successful spot connected American goods. The baseline tariffs of 10% volition instrumentality effect connected Saturday, portion the others volition instrumentality effect connected April 9. 

The Trump medication antecedently imposed a 25% tariff connected imported car vehicles, up to 25% tariffs connected definite goods from Mexico and Canada, arsenic good arsenic a 20% tariff connected shipments from China. The White House said that tariffs already imposed connected Canada and Mexico stay unaltered. However, caller tariffs connected China volition beryllium coupled with existing duties connected Beijing. 

Here is simply a look astatine the tariff rates that the Trump medication imposed arsenic portion of Liberation Day:

• China: 34% (not including erstwhile 20% tariffs)
• European Union: 20%
• South Korea: 25%
• India: 26%
• Vietnam: 46%
• Taiwan: 32%
• Japan: 24%
• 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%

The Trump medication provided a illustration of the tariff rates different countries complaint connected U.S. imports, suggesting that the tariffs the U.S. was imposing were not astir arsenic stringent arsenic they could person been successful bid to scope reciprocity. 

For example, the illustration says that Japan has imposed a 46% tariff connected U.S. goods, portion the U.S. is lone implementing a 24% tariff connected Japanese goods imported to the U.S. 

Why Trump wants tariffs

Trump and his medication person agelong railed against different countries' commercialized practices and accused them of engaging successful unfair commercialized practices against the U.S. — and argued that tariffs volition assistance instrumentality manufacturing jobs to the U.S. As a result, helium and his medication person called for employing tariffs to code the nation’s 2024 grounds $1.2 trillion commercialized deficit. 

"For decades, our state has been looted, pillaged, raped and plundered by nations adjacent and far, some person and foe alike," Trump said Wednesday. 

Tariffs relation arsenic a taxation that governments cod connected overseas goods and services that manufacturers import. They are collected portion undergoing customs clearance successful overseas ports, according to the International Trade Administration. 

The tariffs are expected to impact a big of goods, ranging from electronics, similar iPhones that are predominantly manufactured successful China, according to the Council connected Foreign Relations, to vino and different alcoholic beverages originating from European Union countries, similar Italy. 

Trump’s caller tariffs prompted backlash from members of some parties successful Congress, who person warned that the tariffs volition rise prices for American consumers. 

Specifically, the Senate moved to o.k. a solution by a 51–48 borderline Wednesday evening pursuing Trump’s announcement that would rescind the exigency declaration connected fentanyl trafficking that Trump utilized to warrant duties connected Canada. Four Republicans joined the voting with Democrats successful enactment of the resolution, though it has debased likelihood of passing successful the Republican-controlled House. 

Meanwhile, different countries person spoken retired against the tariffs, including allies similar Canada and Australia. 

TRUMP TOUTS RETURN OF ‘AMERICAN DREAM’ IN HISTORIC TARIFF ANNOUNCEMENT 

Scott Bessent, U.S. treasury secretary, departs pursuing a tariff announcement successful the Rose Garden of the White House, April 2, 2025.  (Jim Lo Scalzo/EPA/Bloomberg via Getty Images)

"In our judgment, it volition beryllium antagonistic connected the U.S. system that volition person an interaction connected us," Canadian Prime Minister Mark Carney told reporters Wednesday. 

Australian Prime Minister Anthony Albanese characterized the Trump administration’s caller duties arsenic "not the enactment of a friend" during a property league Thursday. 

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Meanwhile, Secretary of the Treasury Scott Bessent cautioned different countries against retaliating successful effect to the caller tariffs, informing that the U.S. would not hesitate to instrumentality enactment again. 

"My proposal to each state close now: Do not retaliate," Bessent said successful an interrogation with Fox News connected Wednesday. "If you retaliate, determination volition beryllium escalation."

The Associated Press and Fox News’ Emma Colton and Caitlin McFall contributed to this report.