Lagatar24 Desk
Washington D.C.: US President Donald Trump has announced a new wave of tariffs set to begin on April 2, referring to the date as “Liberation Day” for American industry. The move underscores his aggressive stance on trade as he prepares for another presidential term, sending ripples through global markets and prompting fears of retaliatory action from key economic partners.
What’s in Trump’s Tariff Package?
Starting April 2, the US will implement new tariffs affecting a wide range of goods and trade partners. Highlights include:
• 25% tariff on automobiles, effective from April 3, 2025.
• Additional 20% tariffs on Chinese imports, citing Beijing’s alleged role in global fentanyl trafficking.
• Blanket tariffs on Venezuelan oil buyers.
• Steel and aluminum already taxed at 25% from mid-March.
• Prospective duties on pharmaceuticals, semiconductors, and lumber.
In total, these tariffs are expected to impact around 15% of US trade partners, dubbed the “Dirty 15” by Treasury Secretary Scott Bessent, including China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, and Canada.
Trump also hinted at reciprocal tariffs to match or exceed foreign import duties and other trade barriers such as digital service taxes.
Why It Matters Globally
The policy marks an escalation of Trump’s “America First” economic approach. Countries like Canada, China, and the EU have already retaliated or prepared responses:
• China has hit back with 10%–15% tariffs on US agricultural products.
• The European Union has lined up tariffs on $28 billion worth of US goods.
• Canada slapped tariffs on $42 billion in American exports.
• Mexico is expected to unveil its own measures by early April.
Trump’s administration also has ongoing investigations into lumber, copper, and China’s maritime policies, including a proposal to charge $1.5 million port entry fees for Chinese-built vessels.
What Happens Next?
April 2 is just the beginning. A series of reports are due this week under the “America First Trade Policy” signed by Trump during his inauguration. These include:
• An investigation into the Phase One US-China trade deal.
• Recommendations on export controls to secure US tech dominance.
• A review of the US-Mexico-Canada Trade Agreement (USMCA).
• Evaluation of China’s permanent normal trade status.
Analysts warn that the new policies could disrupt global supply chains, increase prices, and intensify geopolitical friction—especially with countries heavily reliant on US trade.
