The US has launched a global tariff war, imposing retaliatory tariffs on 25 countries. President Trump announced a 10% minimum tariff to apply to goods from all countries, with higher “reciprocal tariffs” aimed at penalizing specific trading partners for their trade barriers.
Some of the countries facing tariffs include:
- Pakistan: 29% retaliatory tariff, with Trump citing Pakistan’s 58% tariffs on US goods
- India: 26% tariffs
- China: 34% tariffs, in addition to existing tariffs, bringing the total to 54%
- European Union: 20% tariffs
- Saudi Arabia, Qatar, and Afghanistan: 10% tariffs each
- Japan: 24% tariffs
These tariffs are set to go into effect on April 9, with the 10% minimum tariffs taking effect on April 5. The move is expected to ignite a global trade war, with multiple nations already signaling plans to retaliate.
