Donald Trump's latest tariff announcements were made on April 2-3, 2025, and here's what's happening:
- *Tariff Rates*: A 10% baseline tariff on all imports, with higher rates for countries with significant trade deficits, such as:
- *Cambodia*: 49%
- *Vietnam*: 46%
- *Sri Lanka*: 44%
- *India*: 26%
- *Exceptions*: Mexico and Canada are exempt, except for non-compliant goods, which will still face a 25% tariff
- *Automobile Imports*: 25% tariff
- *Global Reaction*:
- China has vowed to retaliate and asked the US to cancel the tariffs
- European Union plans to impose countermeasures
- Canada's Prime Minister Mark Carney has promised to fight the tariffs with countermeasures
- Germany's Automotive Industry Association says the tariffs will "only create losers"
- *Market Impact*: The tariffs have caused significant market volatility, with¹ ² ³:
- Wall Street plunging 3.3%
- Dow Jones Industrial Average down 1,520 points
- Global market selloff and uncertainty
Keep in mind that these announcements were made in early April, and the situation might have evolved since then. For the latest updates, I recommend checking reputable news sources like USA Today or Yuge News.⁴
