US President Donald Trump Announces “Liberation Day” with New Trade Tariffs

• Rates vary by country
• Reciprocal tariff policy generates controversy
• Incites debates on fair trade

In a move seen as a radical shift in U.S. trade policy, President Donald Trump on Wednesday unveiled his much-anticipated “Liberation Day” package of tariffs. The package imposes tariffs on goods imported from nations that maintain excessive barriers, introducing a new layer of uncertainty over the future of the global economy.

During an event held in the Rose Garden at the White House, the tariff strategy was detailed and will be implemented in two phases. Initially, a basic tariff of 10% will be applied to all countries, with additional increases for nations that, according to the US government, are the main offenders of this scheme.

“Today is Liberation Day,” Trump proclaimed, arguing that the date would be remembered as the moment when American industry was “reborn.” He stressed: “Our taxpayers have been cheated for over 50 years, but that will not happen again.”

At the heart of the new tariffs are specific charges that vary by country. For example, China will face a 34% tariff, while the European Union will face a 20% surcharge. Brazil, as part of the list, will also face a 10% surcharge. For countries like Cambodia, the tariff goes up to 49%, in response to tariffs of up to 97% on American goods.

Trump also criticized import tariffs imposed by other countries on American goods, such as the 10 percent tariff the European Union levies on U.S. vehicles. However, he failed to mention high U.S. tariffs on foreign goods, such as the 25 percent tariff levied on imported trucks.

Trump’s “reciprocal tariff” policy seeks to match the tariffs imposed by other countries on American goods with similar tariffs on imported goods. However, this approach ignores the complexities of international trade and disregards commitments previously established in multilateral agreements, raising concerns that trade disputes could escalate.

Since Feb. 13, officials have been working hard to promote Trump’s vision of “fair and reciprocal trade,” aiming to equalize not just tariffs but other non-tariff barriers and trade surpluses that are seen as excessive.