Headlines
Trump unveils global reciprocal tariffs
Published by Global Banking & Finance Review®
Posted on April 2, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 2, 2025
2 min readLast updated: January 24, 2026
President Trump announced global reciprocal tariffs, with rates ranging from 10% to 49%, aiming to address trade deficits and prioritize American interests.
(Reuters) -President Donald Trump on Wednesday unveiled global reciprocal tariffs during an event at the White House.
Following are highlights of Trump's remarks:
* "In many cases, the friend is worse than the foe in terms of trade," Trump said.
* "We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves."
* "We are finally putting American first," Trump said.
* "Trade deficits are no longer merely an economic problem. They are a national emergency," Trump said.
* Trump held up a board showing the new rates charged on most countries. Rates ranged from 10% to 49% on the board.
* With a few exceptions, based on the charts Trump read out, the tariff rate being imposed by the U.S. on most countries was around half of what those countries charged. There were some exceptions in which the U.S. charged the exact rates that those countries charged, according to the chart.
* "This is not full reciprocal, it is kind reciprocal," Trump said.
* Following is the list of new tariff rates Trump displayed.
Algeria 30%
Oman 10%
Uruguay 10%
Bahamas 10%
Lesotho 50%
Ukraine 10%
Bahrain 10%
Qatar 10%
Mauritius 40%
Fiji 32%
Iceland 10%
Kenya 10%
Liechtenstein 37%
Guyana 38%
Haiti 10%
Bosnia and Herzegovina 35%
Nigeria 14%
Namibia 21%
Brunei 24%
Bolivia 10%
Panama 10%
Venezuela 15%
North Macedonia 33%
Ethiopia 10%
Chana 10%
(Reporting by Washington Breaking News Team)
The main topic is President Trump's announcement of global reciprocal tariffs to address trade deficits.
Reciprocal tariffs are trade tariffs imposed by one country in response to tariffs imposed by another country.
Trade deficits are seen as a national emergency by Trump, impacting the U.S. economy and trade balance.
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