Catenaa, Thursday, April 03, 2025- More than 180 countries are set to face the US reciprocal tariffs by President Donald Trump, where countries such as China sees a tariff of 54% on its exports to the US.
Trump and the White House shared a series of charts on social media detailing the tariff rates they say other countries impose on the U.S. Those purported rates include the countries’ “Currency Manipulation and Trade Barriers.”
Those rates are, in most cases, roughly half of what the Trump administration claims each country has “charged” the U.S, while the reciprocal rates are not necessarily the only U.S. tariffs these countries will face.
For example, the new reciprocal rate on China will be added to existing tariffs totaling 20%, meaning the true tariff rate on Beijing under this Trump term is 54%. Trump said his plan will set a 10% baseline tariff across the board.
“We will charge them approximately half of what they are and have been charging us,” Trump said in an announcement in the Rose Garden at the White House.
“So, the tariffs will not be reciprocal,” he said. But that halved figure includes “the combined rate of all their tariffs, non-monetary barriers and other forms of cheating,” he said.
Reacting to the reciprocal tariffs most of the global markets were down on Thursday, in Asia, Nikkei 225 closed the day down by 2.77%, Hong Kong’s Hang Seng Index was down 1.49% and Shanghai Composite Index was down by 0.24%.
In Europe FTSE 100 was down by 1.12% in early morning hours and Paris CAC 40 was down by 1.77%.
