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 the new 10 percent tariff ‘floor.’ The other countries, which include allies like Japan, South Korea, and Great Britain, plus top competitor China, face individualized tariffs, based on their own national policies as calculated by the Trump administration.
Senior officials stressed that the factors go beyond simply tariffs to include ‘non-tariff barriers.’ Among them are things like the Value Added Tax used in Europe, which the Trump administration counts as a barrier.
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% of its shoes in Vietnam, which is getting hit with a 46% ‘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% 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.
