President Trump Announces 10% Across-the-Board Tariff on All Imports
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What are the details of the new tariffs announced by President Trump?
President Trump imposes 10% across-the-board tariffs on all imports and higher rates for some nations.
Today we're standing up for the American worker and we are finally putting America first.
Plus, can tariffs actually push businesses to come back to the U.S.? And in a new global trade war, there's a country that may emerge as a winner. It's Wednesday, April 2nd. I'm Alex Osola for The Wall Street Journal. This is the p.m. edition of What's News, the top headlines and business stories that move the world today. In a speech in the Rose Garden this afternoon, President Trump announced details of a sweeping tariff plan, declaring April 2nd Liberation Day for U.S. trade policy.
April 2nd, 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.
The president said the U.S. will impose a 10 percent across-the-board tariff on all imports and even higher rates for other nations the White House considers bad actors on trade. The president called these reciprocal tariffs.
How does President Trump's tariff strategy signal a shift in U.S. trade policy?
Reciprocal. That means they do it to us and we do it to them. Very simple. Can't get any simpler than that.
Later, Trump held up a chart with a list of countries, saying it was too windy to put on an easel. He began to read off 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, quote, charging a discounted reciprocal tariff because the U.S. is kind. For China, the U.S.
Which countries are impacted by the new U.S. tariffs and how?
is levying a 34 percent tariff. And for Europe, quote, we're going to charge them 20 percent and Japan 24 percent. The plan represents a fundamental rethinking of U.S. trade policy on a scale not seen since the post-World War II era, when the U.S. and other nations in 1947 signed the General Agreement on Tariffs and Trade, a treaty aimed at lowering tariffs and trade barriers between nations. Trump and his team have said that U.S. trading partners have taken advantage of that system, despite the U.S. 's leading role in establishing it, and that their actions seek to ensure fair treatment for American companies and goods. For continuing coverage and countries' reactions to tariffs, check out the live blog on WSJ.com. We'll leave a link in the show notes. U.S.
markets closed before President Trump made his tariffs announcement, but major indexes ended the day higher. The Dow rose about 0.6 percent, the S&P 500 ticked up roughly 0.7 percent, and the Nasdaq ended the day about 0.9 percent higher. President Trump's biggest tariff blitz yet sends a clear message to companies. The era of globalization is over. It's pushing U.S. and foreign companies to bring business back to the U.S. But will it work? Tom Fairless covers the European economy for The Wall Street Journal. Tom, Trump has been talking about tariffs and bringing manufacturing back to the U.S. Has it worked so far?
Can tariffs successfully bring manufacturing back to the U.S.?
There have been some high profile announcements by some big multinational firms, Apple, Siemens in Germany, various chip manufacturers like TSMC from Taiwan. These kind of announcements probably take a long time to plan out and probably aren't a direct response to the tariffs. But you do see from questionnaires that some businesses are steering in that direction towards more US investment. The German Association of Engineering Firms conducted a survey of its members recently, and they found out that tariffs were one reason that most firms were interested in investing in the US. A lot of companies will wait for the smoke to clear. It's very difficult to make big investments until things have settled down.
When companies are thinking where to place a new factory, it tilts them towards the U.S., undoubtedly, and away from places like Mexico and Canada. So that trend is there, and going forward, it will steer ever more investment into the U.S. But these are big, complicated decisions. Its entire complex supply chain is built up over decades, and it'll take time.
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Chapters
6 chapters
1
What are the details of the new tariffs announced by President Trump?
0:03–1:17
2
How does President Trump's tariff strategy signal a shift in U.S. trade policy?
1:17–1:46
3
Which countries are impacted by the new U.S. tariffs and how?
1:46–3:08
4
Can tariffs successfully bring manufacturing back to the U.S.?
3:08–4:48
5
What historical context underlies the U.S. tariff strategy?
4:48–5:12
6
How might global trade partners react to U.S. tariffs?
5:12–11:23
Speakers
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