Donald Trump Tariffs Announcement Live Updates: Trump Announces New U.S. Tariffs, Targeting India, EU, China, Vietnam

Trump Declares National Economic Emergency, Imposes Sweeping Tariffs

U.S. President Donald Trump has declared a national economic emergency, granting himself broad powers to impose reciprocal tariffs on countries he accuses of unfair trade practices. Speaking from the White House Rose Garden during the “Make America Wealthy Again” event, Trump vowed to counter America’s record $1.2 trillion trade deficit by boosting domestic manufacturing.  

Despite economists arguing that the trade gap doesn’t fully reflect U.S. economic strength, given a $1.1 trillion surplus in services, Trump insists tariffs are necessary to level the playing field. The new measures, including steep levies on auto imports, are expected to take effect immediately, further escalating global trade tensions.

Canada, EU to Respond to Trump’s New Tariffs

Canadian Prime Minister Mark Carney is set to make a statement soon regarding U.S. President Donald Trump’s newly imposed tariffs, with Canada’s official response expected on Thursday, Reuters reported. Meanwhile, European Commission President Ursula von der Leyen will address the issue at 8 AM IST, outlining the EU’s stance on the tariffs.

Trump Signs Executive Order Imposing Reciprocal Tariff on 50 Countries

President Trump signed a long-awaited executive order imposing reciprocal tariffs on over 50 countries, with a baseline 10% tariff on all imports. Calling it a victory for American manufacturing, he said, “For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich at our expense. Now it’s our turn to prosper.” He also presented a chart detailing individual tariff rates, stating that the U.S. will charge trading partners about half of what they impose on American goods.

Trump Promises Stock Market Surge Despite Drop

The U.S. stock market opened lower today due to concerns over Trump’s tariff policies but later recovered. Despite this, Trump assured a strong comeback, saying, “Maybe the numbers won’t show, but I think they’re going to show much better than even those numbers.

Trump Hits India With 26% Tariff, Calls India ‘Very Tough’ On Trade

President Donald Trump announced a 26% tariff on Indian imports, citing trade imbalances while maintaining his friendship with Prime Minister Narendra Modi.  

“India, very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52%, and we charge them almost nothing,” Trump said at the Make America Wealthy Again event. 

Trump Announces New U.S. Tariffs, Targeting EU, China, Vietnam

Trump’s tariff plan introduces significant increases on key global economies, particularly in Asia and Europe. The full list of new U.S. tariffs includes:

• China  34%
• European Union “20%
• Vietnam  46%
• Japan  24%
• Taiwan  32%
• India 26%
• Thailand 36%
• South Korea 25%
• Switzerland  31%
• Indonesia  32%
• Malaysia  24%
• Cambodia  49%
• United Kingdom 10%
• South Africa 30%
• Brazil 10%
• Bangladesh  37%
• Singapore  10%
• Israel 17%
• Philippines 17%
• Chile  10%
• Pakistan 29%
• Sri Lanka  44%

Trump Imposes Minimum 10% Tariff on All Trading Partner

President Donald Trump announced a 10% minimum tariff on all U.S. trading partners, ensuring no country trades with the U.S. tariff-free. “Every country will pay at least 10%. No more free rides,” he said.

Trump Hits EU With 20% Tariff, Calls Bloc ‘Very Tough Traders’

President Donald Trump announced a 20% tariff on European goods, accusing the EU of unfair trade practices.

“They rip us off. It’s so sad to see. It’s so pathetic. 39 percent. We’re gonna charge them 20 percent,” Trump said. He defended the move as part of his reciprocal tariff strategy, aiming to counter foreign trade imbalances.

Trump Declares ‘Golden Age’ as 25% Tariff on Foreign Cars Takes Effect at Midnight

President Donald Trump announced a 25% tariff on all foreign-made cars, effective midnight, calling it a historic moment for American industry. He criticized the EU for imposing higher tariffs on U.S. vehicles and declared the start of a "golden age" for the country.

‘Liberation Day, The Day We Began To Make America Wealthy Again’, Says Trump

Speaking at the White House, President Trump called April 2 “Liberation Day,” the day that we began to make America wealthy again." He announced plans to sign an executive order on reciprocal tariffs but provided few details. Trump accused foreign nations of exploiting the U.S. economy, saying, “Our country has been looted and plundered by nations near and far.”

Trump Has Arrived To Announce New Tariffs at White House Ceremony

President Donald Trump is participating at the ‘Liberation Day’ event at the White House Rose Garden on Wednesday, where he is expected to unveil new tariffs.

U.S. Adds 25% Tariff on Beer and Aluminum Cans

The Trump administration is extending its 25% tariff on derivative aluminum products to include beer and empty aluminum cans, according to a Commerce Department notice. The new tariffs take effect after midnight Friday, impacting malt beer and small aluminum containers but excluding beer in glass bottles.

Wall Street Rises Ahead of Trump’s Tariff Announcement

U.S. stock indices gained on Wednesday, bouncing back from earlier losses as investors awaited President Trump’s highly anticipated tariff announcement. Markets have been volatile in recent weeks.

Trump is set to unveil reciprocal tariffs at 4 p.m. ET, coinciding with U.S. market closure. Economists suggest this timing reflects concerns over investor reactions. Market volatility has surged, with the S&P 500 and Nasdaq posting their worst quarter since 2022. Goldman Sachs has raised recession and inflation risks, warning that the impact of the tariffs may be greater than expected.

US Tariffs Will Hit Italian Producers Hard, Warns PM Meloni

Italian Prime Minister Giorgia Meloni warned that new U.S. tariffs would have serious repercussions for Italian producers and stressed the need to avoid a trade war.

Brazil Concerned Over U.S. Tariff Plans

Brazil's Planning Minister, Simone Tebet, said the government is "surely" worried about the U.S. administration's plan to implement reciprocal trade tariffs.

Trump Weighs 20% Tariff on Most Imports, Aims to Raise $6 Trillion

Trump is considering a sweeping 20% tariff on most imports, a proposal that could generate $6 trillion annually, The Washington Post reports. While initially favoring targeted tariffs, Trump now sees a universal approach as simpler, though the plan is not yet finalized.

Mexico Won’t Retaliate Against Trump’s Tariffs, Says President Sheinbaum

Mexican President Claudia Sheinbaum ruled out imposing retaliatory tariffs on U.S. goods, stating that her government will focus on what’s best for Mexico. "We do not believe in an eye-for-an-eye approach," she said, emphasizing a strategic response over escalation.

Slovakia To Face Major Hit from Trump’s Auto Tariffs

Slovakia, Europe’s top car producer per capita, could be the hardest hit by Trump’s new auto tariffs taking effect Thursday. While Germany's major automakers, Volkswagen, BMW, and Mercedes, face heavy losses, Slovakia's reliance on U.S. auto exports makes it the most vulnerable, according to economists at ING.

Trump’s Auto Tariffs May Push Imported Car Prices Up by $20,000

According to the Anderson Economic Group, Trump’s tariffs could drive up the cost of some imported vehicles by as much as $20,000. Luxury brands like Audi, BMW, Mercedes, and Lexus, along with full-size SUVs and electric cars, are expected to be the most affected, CNN reports.

Trump’s Tariff Event Guest List to Feature Trade Workers

President Trump will be joined by steelworkers, autoworkers, oil and gas workers, steamfitters, and truck drivers at his Rose Garden tariff announcement, as per reports.

Which Countries Will Face the Biggest Economic Blow?

Trump’s new tariffs target countries with the largest trade surpluses with the U.S., led by China ($295B), the EU ($236B), and Mexico ($172B). Vietnam, Taiwan, Japan, and South Korea also face major impacts, along with India, Thailand, and Canada.

Indian Government Sets Up Control Room to Monitor Trump’s Liberation Day

Indian government has set up control room ahead of U.S. President Donald Trump’s declaration of reciprocal tariffs.

Trump’s Liberation Day Tariff Announcement – Time and Venue

The 'Liberation Day' Tariffs announcement is scheduled for release at 4 p.m. Washington time in the Rose Garden of the White House. For Indian Time it is 1:30 PM.