Trump Announces Sweeping Tariffs on Global Trade, EU Fires Back

In a fiery address from the White House Rose Garden on Wednesday, April 2, 2025, President Donald Trump unveiled what he called “Liberation Day” for American industry—a sweeping plan to impose a 10% baseline tariff on all U.S. trading partners, coupled with steeper duties targeting dozens of countries he accused of exploiting America’s trade generosity.

Declaring that the United States has been “looted, pillaged, raped, and plundered” by unfair trade practices, Trump promised the most significant reorganization of global trade relations since World War II, heralding a “golden age of America” where domestic industry would be reborn.The cornerstone of Trump’s announcement is a universal 10% tariff set to take effect this week, a move he said would level the playing field after years of what he described as “much higher” import taxes imposed on U.S. goods by other nations.

But the administration isn’t stopping there. For countries deemed the “worst offenders” in trade imbalances, Trump introduced reciprocal duties—set at half the rate those nations charge on American exports. The list of targeted countries includes heavy hitters like China (34%), Vietnam (46%), the European Union (20%), South Korea (25%), India (26%), and Taiwan (32%), signaling an aggressive escalation in an already simmering trade war.This latest salvo builds on a flurry of tariff actions Trump has rolled out in his first months back in office. On March 12, a 25% tariff on steel and aluminum imports from all countries took effect, rattling global markets.

The European Union fired back with counter-tariffs on $28 billion in U.S. goods, though it delayed some measures—like a 50% duty on American whiskey—until mid-April, prompting Trump to threaten a staggering 200% tariff on European spirits in retaliation.

Meanwhile, Canada and Mexico faced 25% tariffs starting March 4, though Trump paused duties on goods compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2.China, a long-standing target of Trump’s trade ire, saw new blanket tariffs of 20% layered atop existing 10% duties from his first term, effective this week. Beijing responded swiftly, slapping up to 15% duties on U.S. farm products like chicken and pork as of March 10. In a novel twist, Trump also announced a “secondary tariff” on Venezuela, effective April 2, which would impose a 25% penalty on any country buying Venezuelan oil or gas when trading with the U.S.—a move likely to ripple through energy markets.The trade overhaul doesn’t end with raw materials or energy.

This week, Trump plans to slap 25% tariffs on all foreign-made vehicles, a policy that could reshape the automotive industry and hit consumers’ wallets. Critics warn of rising costs and strained alliances, but Trump remains undeterred, framing the measures as a long-overdue correction to decades of American economic disadvantage. “This is the day American industry will be reborn,” he declared, casting his tariff regime as both a shield for U.S. workers and a sword against global competitors.As the world braces for the fallout, one thing is clear: Trump’s vision of trade liberation is poised to redefine the international economic order.Here’s a sampling of some countries’ rates set to go into effect:

China: 34%

Vietnam: 46%

European Union: 20%

South Korea: 25%

India: 26%

Taiwan: 32%

The moves Wednesday are the latest escalation of a trade war that also includes plans to impose 25% tariffs on all foreign-made vehicles this week. Here’s a rundown of other tariff-related moves Trump has made in his first months in office.

Steel and aluminum: A 25% US tariff on imports of steel and aluminum from all countries took effect on Wednesday, March 12.

European Union: The EU has responded to those metals duties with counter-tariffs on $28 billion in US goods from April. However, the EU delayed the implementation of some of those tariffs until mid-April — including a 50% duty on American whiskey, which had prompted Trump to threaten a 200% tariff on European spirits.

Canada and Mexico: Trump’s 25% across-the-board tariffs on its US neighbors went into effect on Tuesday, March 4. Just two days later, Trump confirmed the US would pause tariffs on goods and services compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2.

China: Trump had enacted new blanket tariffs of around 20% on top of existing 10% duties that went into place during Trump’s first term. China has responded with up to 15% duties on US farm goods such as chicken and pork, which went into effect Monday, March 10.

Venezuela: Trump said the US will impose a “secondary tariff” on Venezuela, to take effect on April 2 — any country that buys oil or gas from Venezuela would face a 25% tariff when trading with the US.