By Gavin Bade
President Trump announced that the U.S. will impose a 10% tariff on all imports, and even higher rates for some nations, in a series of moves he declared “Liberation Day” for U.S. trade policy.
Photo: Mark Schiefelbein/Associated Press
The president opened his remarks Wednesday by saying that his new tariff policies would would “make America wealthy again.” He said he would be announcing reciprocal tariffs on countries across the world. “It can’t get any simpler than that,” he said.
Later, Trump held up a chart with a list of countries, saying it was too windy to put it on an easel. He began to read off of the list, with the tariffs the countries impose on the United States, and then the tariff he said the U.S. would levy in response.
He said that the U.S. was going to be “charging a discounted reciprocal tariff” because the U.S. is kind. For China, the U.S. is levying a 34% tariff, then for Europe “we’re going to charge them 20%” and Japan 24%. He is going down the list of more than a dozen countries.
What to know:
Trump began speaking shortly after 4 p.m. ET at the Rose Garden. The Wall Street Journal is streaming the president’s tariff comments live.
Tariffs have triggered unease and confusion across the business world, with some saying the uncertainty is as tough to deal with as the added duties.
Stock futures turned lower during President Trump’s big tariff announcement, following modest moves higher earlier in the day.
See the latest developments below, including where the tariffs stand and how markets are reacting.
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