The Trump administration's tariff policy for each country

The Trump administration announced a large scale tariff policy to reduce the US trade deficit and protect domestic manufacturing, designating April 2, 2025 as "Liberation Day." This policy was implemented by imposing a basic tariff of 10% worldwide, while imposing higher "reciprocal tariffs" on certain countries. Below is a table summarizing the main contents.

Summary of Tariff Policy& Country/Region Tariff Rates
Worldwide 10% Basic tariff applied to all countries

 

China 54% Additional 34% tariff on top of existing 20%
EU 20% Designated as a major trading partner
Vietnam 46% Major exporter to Asia
Cambodia 49% Major exporter to Asia
Thailand 36% Major exporter to Asia
Japan 24% Major exporter of automobiles and electronics
Canada Exempt Exempt if in compliance with existing USMCA agreement
Mexico Exempt Exempt if in compliance with existing USMCA agreement
Australia 10% Basic tariff only
Switzerland 31% Exporter of advanced products
South Africa 30% Exporter of minerals and resources

Policy Background and Calculation Method
The Trump administration claimed that it took into account the tariffs and non tariff barriers imposed by each country on the United States when introducing "reciprocal tariffs," but in reality, it used a simplified calculation method. This calculation method was made by dividing the country's trade deficit with the United States by the value of its exports and then multiplying by half. This has been criticized as being out of sync with the actual tariff levels of each country.

Policy Impact
Global Economic Impact: High tariffs will disrupt global supply chains and are likely to lead to higher prices in the US and other countries. Possible Trade Retaliation: Major trading partners such as China and the EU have already announced or are in negotiations on counter tariffs.
Increased Burden on US Consumers: Consumers are expected to be directly affected by higher import prices.