Trump Announces Tariff Bomb on All Imports, Escalating Trade War with Major Partners

President Donald Trump announced plans to impose a 10 % baseline tariff on all imports to the United States, along with higher duties on key trading partners. This decision intensifies the trade war he initiated upon returning to the White House.

The new tariffs are set to erect significant barriers around the world’s largest consumer economy, effectively reversing decades of trade liberalization. In response, other countries are expected to implement their own measures, potentially driving up prices on a range of products from bicycles to wine.

During an event in the White House Rose Garden, Trump described these tariffs as a “declaration of independence” for the nation. He showcased a poster outlining reciprocal tariffs – including:

• 34 % on China;
• 20 % on the European Union;
• 46 % on Vietnam;

in reaction to tariffs imposed on US goods. Should be noted, what there is no Russia in this list.

While further details remain sparse, Trump reiterated his long-standing argument that global trade harms US workers and businesses. This uncertainty has unsettled financial markets and disrupted businesses that have depended on stable trading relationships established since 1947.

The administration has indicated that the tariffs will take effect immediately upon announcement, despite the official notice for enforcement not yet being published. Additionally, a separate set of tariffs on auto imports, announced last week, is scheduled to start on April 3.

Previously, Trump imposed a 20 % duty on all Chinese imports and a 25 % duty on steel and aluminum, extending these tariffs to nearly $150 billion in related products. His advisers believe these measures will help reestablish crucial manufacturing capabilities in the United States.

However, external economists warn that the tariffs could slow the global economy, increase the risk of recession, and raise living costs by thousands of dollars for the average American family. Businesses have also voiced concerns over the uncertainty caused by these aggressive trade measures.

Already, global manufacturing has slowed, and there has been a surge in auto and other imported goods purchases as consumers hurriedly shop before potential price hikes. Financial markets reacted with volatility as investors awaited Trump’s announcement, contributing to a loss of nearly $5 trillion in US stock value since February.