President Donald Trump on Wednesday unveiled a long-promised, sweeping set of baseline tariffs on all countries and what he described as “kind reciprocal” tariffs on nations he claimed were the worst offenders in trade relations with the U.S.
“My fellow Americans, this is Liberation Day,” Trump said from the White House Rose Garden, claiming the action will free the U.S. from dependence on foreign goods.
“April 2, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed and the day that we began to make America wealthy again,” he said.
The new measures — which Trump described as “historic” — include a minimum baseline tariff of 10% on all trading partners and further, more targeted levies on certain countries like China, the European Union and Taiwan.
“We will charge them approximately half of what they are and have been charging us,” he said, adding, “because we are being very kind.”
“This is not full reciprocal. This is kind reciprocal,” he said.
Trump held up a chart with a list of nations and what the new U.S. tariffs against them will be. At the top was China, which Trump said was set to be hit with a 34% tariff rate as he claimed it charged the United States 67%.
The 10% baseline tariff rate goes into effect on April 5, according to senior White House officials. The “kind reciprocal” tariffs go into effect April 9 at 12:01 a.m., officials said, and will impact roughly 60 countries.
Trump described trade deficits as a “national emergency” and that his actions will usher in what he called “the golden age of America.”
“In short, chronic trade deficits are no longer merely an economic problem. They’re a national emergency that threatens our security and our very way of life. It’s a very great threat to our country,” he said.
Read the full report on ABC News.
