President Trump formally rolled out his “Liberation Day” tariffs Wednesday, imposing 10% levies on nearly all imports from more than 20 countries starting April 5.
Higher country-specific rates will kick in on April 9 for nations listed in an annex to the order. Key targets include China (34%), Vietnam (46%), and Taiwan (32%). Trump has said tariffs could go to zero if companies move operations to the U.S.
Trump cited unequal tariff rates, non-tariff barriers, and wage-suppressing policies by trading partners like China, India, and the EU as threats to U.S. supply chains and military readiness.
Key exemptions to the tariffs include defense goods, critical minerals, energy, and goods from Canada and Mexico that meet North American trade rules. Read the full executive order here.