Trump announced the implementation of "reciprocal tariffs" and several trading partners said they would retaliate

According to Cailian News Agency, on Wednesday (April 2) Eastern Time, US President Trump signed two executive orders on the so-called "reciprocal tariffs" at the White House, announcing that the United States would set a 10% "minimum base tariff" for all trading partners and impose higher tariffs on multiple trading partners. Trump said that the United States will impose reciprocal tariffs on dozens of trading partners, but the tariffs will not be completely equal. The United States will charge these countries and regions about half of the combined tax rate. Trump showed a poster with a list of reciprocal tariffs.

The United States imposes a 34% reciprocal tariff on China, a 20% reciprocal tariff on the European Union, a 10% reciprocal tariff on Brazil and the United Kingdom, a 31% reciprocal tariff on Switzerland, a 26% reciprocal tariff on India, a 25% reciprocal tariff on South Korea, a 24% reciprocal tariff on Japan, a 32% reciprocal tariff on Indonesia, a 36% reciprocal tariff on Thailand, a 46% reciprocal tariff on Vietnam, and a 49% reciprocal tariff on Cambodia.

Senior White House officials said that the base tariff rate (10%) will take effect at dawn on April 5, and the reciprocal tariff will take effect at dawn on April 9. The tariff exemption for goods under the USMCA will continue, and the tariff for goods that do not comply with the USMCA will remain at 25%. Previously, several trading partners have said they will take countermeasures in response. European Commission President Ursula von der Leyen said that in the face of the new tariffs that the Trump administration is about to introduce, the EU "holds a lot of cards" and has formulated a strong counter-plan that will be implemented when necessary. Canadian Prime Minister Carney said that if Trump fulfills his promise of "reciprocal tariffs", Canada plans to impose counter-tariffs on US goods this week. Carney warned that Canada's relationship with the United States has changed fundamentally, and Canada has "a number of measures to deal with it."