A significant portion of products that the United States imports from the rest of the world is now subject to an additional 10% tariff as of 6:00 on Saturday, marking a major impact on global trade that is expected to escalate in the coming days.
The universal 10% minimum tariff, from which some products are exempt, is added to pre-existing customs duties.
Certain goods are currently exempt from this increase, including oil, gas, copper, gold, silver, platinum, palladium, construction timber, semiconductors, pharmaceuticals, and minerals not found in the United States.
Steel, aluminium, and imported cars are also exempt but are already subject to a 25% tariff.
These surtaxes are calculated to also reflect non-tariff barriers imposed by these countries, such as health regulations and environmental standards.
Tariffs will be set at 31% for Switzerland, 26% for India, 25% for South Korea, 24% for Japan, and 46% for Vietnam.
The list of 80 heavily taxed countries has been shortened since President Trump’s announcement on Wednesday. It no longer includes the French islands of Saint Pierre and Miquelon, initially subject to a 50% tariff, nor the Australian territories of Heard and McDonald Islands, which are home only to penguin colonies.
Tariffs targeting major global economies like China (34%) and the European Union (20%) will come into effect on 9 April at 6:00 by Brussels time.
In response to this decision, China has announced it will implement a 34% tariff on all U.S. goods starting from 10 April.
