US President Donald Trump is set to roll out new tariffs starting April 2, calling it ‘Liberation Day for American trade’. These tariffs aim at countries that impose high duties on US goods or follow trade policies that Trump’s administration considers unfair.
While specific details remain unclear, several nations are expected to bear the brunt of these new measures. The Trump administration has long argued that existing global trade rules favour other countries at America’s expense, and these tariffs are positioned as a strong response, reported India Today.
‘Dirty 15’ countries to be targeted by new tariffs
US Treasury Secretary Scott Bessent recently labelled a group of nations as the ‘Dirty 15’ — countries that, according to the administration, impose steep tariffs and trade barriers against US goods.
Though Bessent did not reveal the exact list, the US Commerce Department’s 2024 trade deficit report offers key insights. Countries with the highest goods trade deficits with the US include:
– China
– European Union
– Mexico
– Vietnam
– Ireland
– Germany
– Taiwan
– Japan
– South Korea
– Canada
– India
– Thailand
– Italy
– Switzerland
– Malaysia
– Indonesia
These nations account for a significant portion of the US trade imbalance and are expected to face the most severe tariff hikes.
Beyond the ‘Dirty 15’
In addition, the Office of the US Trade Representative (USTR) has flagged 21 countries for following trade practices that Washington considers unfair. This broader list includes:
– Argentina
– Australia
– Brazil
– Canada
– China
– European Union (EU)
– India
– Indonesia
– Japan
– South Korea
– Malaysia
– Mexico
– Russia
– Saudi Arabia
– South Africa
– Switzerland
– Taiwan
– Thailand
– Turkey
– United Kingdom (UK)
– Vietnam
While the focus has been on the ‘Dirty 15’, Trump has hinted that more nations could face trade penalties under his administration’s new economic strategy.
What tariffs will be imposed?
The exact tariff structure is yet to be unveiled, but past policies suggest that the new measures could include:
– Higher tariffs on key industries such as pharmaceuticals and semiconductors.
– Increased levies on foreign automobiles and auto parts, taking effect from April 4.
– New trade barriers targeting manufactured goods from countries with large trade surpluses with the US.
Trump has previously imposed broad tariffs on steel and aluminium, levies on foreign cars, and targeted duties on Chinese goods. The upcoming measures are expected to expand those policies while focusing on countries with a significant trade surplus against the US.
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