President Donald Trump announced sweeping new tariffs on imports, including a baseline 10% tariff on nearly all goods entering the U.S. and significantly higher rates for dozens of countries deemed to have unfair trade practices. The new policy, unveiled during a Rose Garden event the White House dubbed “Liberation Day,” marks a dramatic shift in U.S. trade strategy with far-reaching implications for global supply chains.
The baseline tariff will apply to goods from nearly every country except Canada and Mexico, whose compliant goods under the USMCA trade agreement are exempt. Goods from non-compliant USMCA sources will continue to be taxed at a 25% rate. The 10% tariff goes into effect at 12:01 a.m. ET on Saturday.
In addition, a set of “reciprocal tariffs” — calculated at half the rate foreign nations impose on U.S. exports — will take effect April 9. These higher rates target roughly 60 countries, including some of the United States’ largest trading par…