Donald Trump is imposing retaliatory tariffs on dozens of countries around the world. The highest rates are set for products from China, Vietnam, and Cambodia. A state of emergency has been declared in the US economy.
The presidential decree speaks about unequal tariff rates as a threat to US national security. Trump said: "The USA will calculate the combined tariff rate of other countries on American goods and impose their own at roughly half this amount.">
A 20 percent tariff is set for the European Union, 32 percent for Taiwan, Japan pays 24 percent, South Africa pays 30 percent, Switzerland pays 31 percent. Britain, Egypt, Turkey, Colombia, Peru, Argentina, Chile, and Singapore will pay a minimum base tariff of 10 percent.
Starting April 3, the USA is imposing a 25 percent tariff on imports of passenger cars, light trucks, and automotive parts. Donald Trump also imposed a 10 percent tariff on uninhabited islands Heard and McDonald, which are external territories of Australia.
New import tariffs supplement previous ones, with the rate on Chinese imports reaching 54 percent.