Author: Al Jazeera Staff
Published on: 03/04/2025 | 00:00:00
AI Summary:
Trump announced a range of reciprocal tariffs targeting almost all countries that the United States trades with. Trump’s latest tariffs are going to hit the countries with which Washington has large trade deficits or that impose heavy tariffs on US goods. In 2023, the US imports were worth $1.1 trillion more than its exports; no other country has as large a trade deficit as the US. Trump said the US is charging its trading partners with smaller tariffs compared with the tariffs and non-tariff barriers that the partners impose on the US. China charged US products with an average 67 percent tariff. The effective tariff on China will actually be higher — and some countries will now be tariffed higher than the duties they levy on US imports. Algeria: 30 percent Angola: 32 percent Bangladesh: 37 percent Bosnia and Herzegovina: 36 percent Botswana: 38 percent Brunei: 24 percent Cambodia: 49 percent Cameroon: 12 percent Chad: 13 percent China: 34 percent (in addition to the 20 percent imposed earlier) Democratic Republic of the Congo: 11 percent Equatorial Guinea. Trump has also imposed a flat 10 percent tariff on products coming from almost all other trading partners of the US. He did this by invoking the International Emergency Economic Powers Act of 1977. Some of the leading countries that will face this 10% tariff rate on all exports to the US include: United Kingdom Australia Singapore Brazil New Zealand Turkiye United Arab Emirates Saudi Arabia Chile These tariffs will come into effect on April 5.
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