Washington, April 2, 2025 – U.S. President Donald Trump announced in a press conference that he was implementing new tariffs to protect the U.S. economy and encourage domestic production. This decision, which he calls “Liberation Day,” aims to restrict imports and eliminate trade imbalances.
According to the new decree, a general customs duty of 10% will be applied to all products imported into the US. In addition, higher additional tariffs have been introduced for certain countries.
Trump, in his speech at the press conference, used the following expressions: “They have exploited the US for decades. We are putting an end to that now. We will protect American workers and industry.” White House officials stated that these tariffs are necessary to regulate the US trade balance and end “unfair trade practices.”
The European Union announced that it plans retaliatory tariffs, stating that the tariffs violate WTO rules.
China announced that it will impose additional tariffs of up to 40% on goods imported from the US.
Canada and Mexico have started diplomatic talks, arguing that the tariffs violate the North American Free Trade Agreement (USMCA).
Israel has been included in the new tariffs despite removing all tariffs on US products. Israeli Finance Minister Bezalel Smotrich said, “This decision threatens the Israeli economy.” Germany warned, “This decision could damage US-EU relations.” Which Countries Are Affected? Which Countries Are Affected? The Trump administration’s new tariffs specifically target the US’s largest trading partners. Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? Which Countries Are Affected? The Trump administration’s new tariffs specifically target the US’s largest trading partners. –>
In addition, a 25% additional customs duty was imposed on cars imported from outside the US.
Economists warn that this move could trigger a new trade war. In particular, the steel, automotive, and electronics sectors are among the areas that will be most affected by these taxes.
Debates continue within the US. While some Republican senators support Trump, Democrats argue that this decision will “harm consumers and increase inflation.”
These new taxes could stimulate US domestic production in the short term and increase employment in some sectors.
However, it carries several critical risks in the long term:Increase in Consumer Prices: Imposing additional tariffs on goods imported into the US could lead to higher retail prices.
Intensification of Trade Wars: Countries retaliating against the US could impose additional tariffs on US goods, putting American exporters in a difficult position.
Negative Impact on Global Economic Growth: A contraction in trade volume could cause a slowdown in the global economy.
US Business Reaction: Many large US-based companies have expressed concerns that these tariffs will negatively impact their supply chains. These new tariffs are scheduled to take effect on April 5, 2025. However, due to international pressure, the US administration may reconsider its decision.
