The US President Donald Trump reformed the imposition of “reciprocal tariffs” on foreign countries on April 2. Speaking in the Rose Garden outside the White House, Trump called the measures a “declaration of economic independence” for the United States.
He said Washington would use the money raised from the tariffs to “cut taxes and pay down the national debt”. The president expects the tariffs to boost production, increase competition and lower prices for consumers.
"For years, hardworking American citizens have been forced to sit on the sidelines while other countries have grown rich and powerful, much of it at our expense. But now itʼs our turn to prosper," Trump declared.
The US has imposed a 25% tariff on all foreign-made cars. The decision will take effect at midnight [Washington time]. Tariffs on foreign-made auto parts are expected later.
Donald Trump has reported the introduction of tariffs of at least 10% on virtually all goods imported into the United States. The higher rates will apply to dozens of countries that, according to US administration officials, have the least fair trading relations with Washington.
The White House has released a full list of countries that will be subject to tariffs. Ukraine will be subject to a base tariff of 10%. The list does not include Russia, Mexico, or Canada. The tariffs will take effect on the night of April 9, a senior US official told CNN.
The media says the new policy is aimed at restoring the countryʼs manufacturing capacity. However, it says the actions risk escalating "a nascent global trade war" and raising prices for Americans "at an economically unstable time."
- After his inauguration, Trump imposed 25% tariffs on all steel and aluminum imports, raised tariffs on goods from China to 20%, and imposed 25% tariffs on imports from Canada and Mexico—countries he accused of facilitating drug smuggling into the United States.
- China responded with mirror tariffs on March 4, and Mexico and Canada promised to respond the same day. On March 12, the EU announced tariffs on metals, whiskey, and products from the United States. On the same day, Canada imposed new tariffs on American goods.
For more news and in-depth stories from Ukraine please follow us on X.