Trump Announces Wide-Ranging Tariffs, 10% Base Tax on All Imports

United States President Donald Trump revealed extensive reciprocal tariffs, applying a standard 10 percent tax on all imports and imposing much higher rates on numerous countries with which the US has trade deficits.

In a statement made from the White House Rose Garden, Trump referred to the initiative as a “declaration of economic independence” and promised to enhance domestic production by creating a fair environment with foreign rivals. 

Trump’s retaliatory tariffs also aim at nations such as Syria, which has endured Israeli strikes since the ousting of President Bashar al-Assad in December 2024, and Myanmar, which is suffering from earthquake devastation during a civil war. They additionally focus on economies that are already having trouble managing their finances, relying on loans from the International Monetary Fund, like Sri Lanka and Pakistan. 

The revised tariff system implements a uniform 10 percent rate on all imports and enforces elevated rates on numerous key trading partners. Cambodia encounters the highest tariff at 49 per cent, closely followed by Vietnam at 46 per cent, Sri Lanka at 44 per cent, and China at 34 per cent. Trump additionally declared a 26 percent "reduced reciprocal tariff" on goods imported from India. 

In his speech, Trump argued that the US imposes lower tariffs on its trading partners than the tariffs and non-tariff barriers those partners apply to the US.