It’s the list the nation’s global trading partners didn’t want to land on.
The White House released its full list of more than 60 countries that are set to get hit with reciprocal tariffs as part of President Donald Trump‘s plan to make the nation ‘wealthy again.’
All nations now face being hit with 10 percent tariffs on all imports to the U.S. with the highest at 50 percent.
The other countries, which include allies like Japan (24 percent), South Korea (25 percent), and Great Britain (10 percent), plus top competitor China (34 percent), face individualized tariffs, based on their own national policies as calculated by the Trump administration.
‘My fellow Americans, this is liberation day, we’ve been waiting for a long time,’ Trump proclaimed. ‘In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world.’
As Trump spoke the stock market tanked – with Dow futures dropping more than 250 points, the S&P 500 falling 100 points and Nasdaq futures dripping more than 400 points.
The individualized tariffs take effect April 9 at 12:01 AM. In theory that allows time for negotiation, but a senior administration official didn’t advertise that the store was open.
‘For the moment, we are very, very focused on getting the tariff regime in place,’ the official told reporters.
The tariffs are set to impact not only countries, but companies. Nike makes about 25 percent of its shoes in Vietnam, which is getting hit with a 46 percent ‘reciprocal tariff.’ Adidas also manufactures in the country. The country makes a third of U.S. footwear.
European Union countries, who Trump has repeatedly accused of ripping off the U.S., are getting slapped with a 20 percent tariff.
‘For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,’ Trump said in his White House remarks.
The administration cited the U.S. trade deficit as the legal justification for the ‘national emergency’ allowing Trump to impose the tariffs.
One reason beyond trade policy for the imbalance: the strong dollar and the strong U.S. economy compared to many of its partners.
Read the full list of Trump tariffs below:
The White House released its full list of more than 60 countries that are set to get hit with reciprocal tariffs as part of President Donald Trump ‘s plan to make the nation ‘wealthy again’
