President Donald Trump on Wednesday unveiled a long-promised, sweeping set of baseline tariffs on all trading partners 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 punitive levies on certain countries, including 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 new 34% tariff would be on top of a 20% U.S. tariff on China already in effect — bringing the total tariff to 54%, according to Trump’s senior counselor for trade Peter Navarro.)
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 affect roughly 60 countries.
The “reciprocal” tariffs are based not just on what was listed on the chart but also on alleged currency manipulation and trade barriers.
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.
Wednesday’s tariff announcement is a moment months in the making for the president, but one that comes with significant political and economic risk.
Some experts warn his moves could cause the economy to slide into a recession and markets seesawed ahead of Wednesday’s announcement, after weeks of turmoil as Trump’s tariff policy shifted and took shape.
The White House had been mum on details ahead of Wednesday’s event. One senior administration official said the situation was “still very fluid” after meetings on Wednesday morning and that Trump and his top advisers were trying to find some common ground where they agreed.
Some options debated in recent weeks, ABC News Senior White House Correspondent Selina Wang reported, were a 20% flat tariff rate on all imports; different tariff levels for each country based on their levies on U.S. products; or tariffs on about 15% of countries with the largest trade imbalances with the U.S.
Wednesday’s tariffs build onto levies already imposed by the administration, including on steel and aluminum as well as certain goods from China, Canada and Mexico.
“China urges the United States to immediately cancel its unilateral tariff measures and properly resolve differences with its trading partners through equal dialogue,” a Commerce Ministry spokesperson said in a statement from China late Wednesday evening.
The actions have strained relations with Canada and Mexico, two key allies and neighbors. Prime Minister Mark Carney said last week the U.S. and Canada’s deep relationship on economic, security and military issues was effectively over.
