Trump declared the US had been taken advantage of by “cheaters” and “robbers” from abroad and imposed a 10% “baseline” tariffs on all imports into the US.
But countries like Cambodia, Vietnam, Malaysia and Bangladesh will be affected hard, with tariffs as high as 50% in some instances.
UK products will be hit by a 10% tariff, while those from the 27-member EU bloc by 20%.
The initial 10% tariff will strike on 5 April 12:01 EST, and higher rates from 12:01 EST on 9 April.
Trump has already declared a 25% tariff on all foreign-produced cars entering the US, which comes into force at midnight EST (04:00 GMT) 3 April.
He declared a 25% tariff on all steel and aluminum imports last month.
The US president also doubled to 20% a duty on Chinese imports, imposed 25% on Mexican and Canadian imports, and a 10% duty on Canadian energy exports.
What are tariffs and how do they operate?
Tariffs are taxes imposed on imports coming from foreign nations.
Businesses that import the foreign products into the nation have to pay the tax to the government.
Companies are able to pass on part or all of the cost to consumers.
The global “reciprocal tariffs” promised by Trump are designed to hit competing nations that are already levying charges on American imports – although the US leader claims his tariffs are lower than those charged on America.
Why is Trump employing tariffs?
They are the centerpiece of Trump’s economic vision. He talks with too much pride that “tariff” is his favorite word.
He says that the taxes will lead US consumers to purchase more indigenous goods, stimulating the economy of the country and raising the level of tax collected.
Related: Donald Trump hints at tariff concessions if China agrees TikTok deal
Trump is seeking to reduce the gap between the worth of goods the US imports and those it exports to other nations.
For instance, the US recorded a trade deficit of $213bn (£165bn) with the European Union (EU) in 2024, which Trump has referred to as “an atrocity”.
The US president also stated they were meant to compel China, Mexico and Canada – the nations initially targeted – to do more to prevent migrants and drugs from arriving in the US.
He has declined to exclude the possibility of a recession due to his trade policies. US Commerce Secretary Howard Lutnick stated they were “worth it” even if they caused an economic downturn.
A number of tariffs Trump has announced have later been put back, changed or cancelled.
Will US consumers face higher prices?
Economists foresee them raising prices for US consumers on much of what it imports, as companies pass along some or all of their rising costs.
Items that might be affected include everything from beer, whisky and tequila to maple syrup, gasoline and avocados.
Companies can also choose to import less foreign products, which might in turn see those available priced higher.
Among Trump’s targets are foreign car companies. The US imported around eight million cars last year – representing around $240bn (£186bn) in trade and around half of total sales.
You May Like To Read: Women’s Hormonal Health Tips: 5 Natural Ways to Balance Your Hormones
The new 25% import duties on vehicles and vehicle components will come into force on 2 April, with fees on companies bringing in cars beginning the following day. Tariffs on components are to be introduced later, perhaps in May.
Car prices were set to increase already due to this on imports from Mexico and Canada.
Component parts usually travel across the US, Mexican and Canadian borders many times before a car is fully assembled.
How have other nations reacted to Trump’s tariffs?
A few other nations have imposed their own tariffs on American goods imported into their countries.
These will drive up the prices of US items, and are adding to anxieties about an international trade war that would lead to issues in economies across the globe.
China has imposed a 10-15% tariff on certain American farm products. It has also hit US airlines, defence companies and technology companies.
The European Commission president, Ursula von der Leyen, has vowed a “robust and calibrated response” to any additional tariff announcements.
Canada has imposed 25% tariff on US steel, aluminium and a variety of other products. Additional counter tariffs are to be introduced.
Mexico has deferred the introduction of its own retaliatory tariffs pending negotiations.