Trump announces 10 percent tariffs on all imports, additional taxes for some 60 countries

[BumRushDaShow]

Source: Washington Post

Updated April 2, 2025 at 4:44 p.m. EDT


President Donald Trump said Wednesday that he will impose a new 10 percent tariff on all imported goods along with an additional punitive import tax tailored for each of about 60 countries that his advisers say maintain the most unfair barriers against U.S. products.

The president’s long-awaited tariff plan is designed to spur a renaissance in domestic manufacturing and to fill government coffers with tax revenue, even as many economists warn that he is steering the U.S. economy toward slower growth and higher prices. “In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender,” Trump said during a Rose Garden ceremony before an audience of guests, reporters and members of his Cabinet.

The president’s latest trade initiative represents a breathtaking political gamble. After returning to the White House on a wave of public anger over inflation, Trump is now asking voters to put up with a renewed period of rising prices in return for the distant promise of rebuilding domestic manufacturing.

Already, economists are warning that Trump’s tax increase on imported goods will mean sticker shock on some of Americans’ most important purchases, including groceries, cars and homes.

Read more: https://www.washingtonpost.com/business/2025/04/02/trump-tariffs-liberation-day-trade/

---

No paywall (gift)

Article updated.

Original article -

April 2, 2025 at 4:34 p.m. EDT


President Donald Trump said Wednesday he will impose a new 10 percent tariff on all imported goods along with an additional punitive import tax tailored for each of about 60 countries that his advisers say maintain the most unfair barriers against U.S. products.

The president's long-awaited tariff plan is designed to spur a renaissance in domestic manufacturing and to fill government coffers with tax revenue, even as many economists warn that he is steering the U.S. economy toward slower growth and higher prices. "In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender," Trump said during the Rose Garden ceremony before an audience of guests, reporters and members of his Cabinet.

The president's latest trade initiative represents a breathtaking political gamble. After returning to the White House on a wave of public anger over inflation, Trump is now asking voters to put up with a renewed period of rising prices in return for the distant promise of rebuilding domestic manufacturing.

Already, economists are warning that Trump's tax increase on imported goods will mean sticker shock on some of Americans' most important purchases, including groceries, cars and homes.

[BoRaGard]

1. .

[Rebl2]

2. Domestic manufacturing

isn’t going to come back like he thinks it will. Even if some of it does, it will take years.

[MANative]

5. Exactly. That manufacturing infrastructure simply doesn't exist anymore, particularly in my industry

(Fashion). There used to be hundreds of fabric mills and garment manufacturers both here in the northeast and in the south. Now only a handful exist. It would take 4-5 years to get anything meaningful going and it won't happen because the labor costs are just too high.

[Rebl2]

7. Exactly

[IbogaProject]

13. Our economy can't compete due to our sky high insurance costs

Both health care and all liability coverage are a very serious friction to any attempt to revive domestic manufacturing.

[NickB79]

21. The US population is stagnant, only held up by immigration

And we're hitting the brakes on that as well. As Baby Boomers age out, our potential abor pool will drop. You can't add millions of manufacturing jobs without employees to fill them.

[underpants]

29. Workforce

We don’t have the workforce to work in plants.

[travelingthrulife]

47. Also, the expectation is that American workers will be willing to work for $7.50/hr

Even if they brought some back, they will probably employ AI tech and eliminate much of the labor needed.

[WestMichRad]

3. TSF announces 10% sales tax increase on all imported goods."

FIFY

[PSPS]

19. I think that's the "logic" behind this.

He wants his tax giveaway to the rich to be permanent. In fact, he said that tariffs would eliminate the need for any income tax at all! So, in other words, he sees a country financed entirely by tariff income which, since the tariff is passed onto the end consumer, amounts to a national sales tax.

Ask any resident in Washington state how that's working out. It is a state with no income tax but there is a sales tax. Sales taxes are the most regressive tax scheme there is. That's why you find the mansions of so many billionaires there, like Bill Gates' 66,000 square-foot "House." The roads are falling apart, bridges are falling down, schools have no funds, etc.

Next door in Oregon, though, there is no sales tax but they do have an income tax. The infrastructure is excellent and they can fund essential services.

[Justice matters.]

35. As usual, it doesn't make sense, since tariffs (sales tax) only apply to imports

Which will encourage consumers to buy only made-in-us products, since they will be sales-taxes free, and discourage purchases of foreign-made goods.

Then, if that happens significantly, how much of these (sales-taxed) tariffs will actually be collected? Absolutely not near the no-income-tax level, realistically.

[ImNotGod]

4. Homes and cars are already out of reach for many amerikans, guess we better start saving up for bigger cardboard boxes.

[JohnSJ]

6. Does that include 10% more on those he already has put tariffs on? Either way it is bullshit.

[llmart]

8. Can't wait for all those people who criticized Biden for the price of eggs.

They are going to get a real taste of just how much this will affect their lives.

[SunSeeker]

9. But it is 25% on all foreign made automobiles, which is basically all automobiles.

[Bengus81]

10. That's what I thought...he backed off on the additional 25% for Canada and Mexico a month ago

But gave it till April 2nd and they would be put in place. So where are they?

[SunSeeker]

15. Trump said it at the Rose Garden today, "25% on all foreign made automobiles."

I watched him say it.

[Bengus81]

16. Now I think he says that starts tomorrow. The post market is TANKING. Tesla down almost $16

[BumRushDaShow]

23. The car parts tariff is supposed to start May 3rd.

And you are brave to:

1.) Look at him at all (I scroll past any image)
2.) Listen to him (I mute)

[underpants]

26. I didn't know the date but I heard today that it included parts

On the radio.

I was wondering if there was a workaround that a lot of industries get to be “Made in the US”.

Nope. We learned from the recall that basically all the steering wheel airbags are made by by two companies in Japan. Or headquartered in Japan. There’s no way to recreate that here.

Workforce is a whole other ballgame.

[BumRushDaShow]

30. I had a Reuters report OP (they saw it posted in the Federal Register)

https://www.democraticunderground.com/10143432154

Notice to be published (PDF) - https://public-inspection.federalregister.gov/2025-05930.pdf

[underpants]

31. Thanks. I wonder if that includes those who cross borders more than once.

Not looking for you to research that.

I moved 75% of my 401k-ish plan to bond heavy funds today.

[BumRushDaShow]

32. All of the particulars haven't been published on the gov trade site yet

so it may be awhile (although some news sites are starting to do deep dives).

[Bernardo de La Paz]

40. The WH seems to have said that CUSMA treaty products are exempted for up to 30 days

The worst of both worlds: not only have "yuge" tariff taxes been imposed, but there is still a lot of uncertainty.

[IronLionZion]

11. Better stock up on Trump "I did that" stickers for prices on everything

People have no idea how much stuff is imported. The costs of many services like healthcare will also increase since they would use imported supplies and materials. And it sure sucks for anyone who is exporting stuff when foreign countries don't want to buy American.

[Chemical Bill]

22. Are the stickers made in America?

[IronLionZion]

33. The stickers our Dem party sells are made in America

so they wouldn't get the tariffs. Not sure about the paper and glue though.

[Bengus81]

12. See how long it takes us to get back to a 2008 economy with this shit. Back to the future

[Initech]

14. Good god this man is fucking evil and drunk with power.

[bdamomma]

39. He

should of fell down that escalator in 2016. A sick ass celebrity who had no experience running for pResident. But that's water under the bridge now.

[usonian]

17. Taxation without representation

[Bernardo de La Paz]

41. Red coats have become red hats under King Mucus and Been a Dick Arnold. . . . . nt

[GreenWave]

18. Does that include hurricanes?

[TomSlick]

20. And the economy goes over the cliff.

It's genius I tells ya, genius.

[underpants]

27. 😆

[RazorbackExpat]

37. Genius like Wile E. Coyote

falling off a mile-high cliff

[muriel_volestrangler]

24. "Those insects, seabirds, seals and penguins have been treating America really, really unfairly"

As the full list of countries subject to Donald Trump’s “reciprocal tariffs” becomes available, some are voicing amusement at the inclusion of the Heard and McDonald Islands, an uninhabited Australian external territory.

The barren, volcanic Antarctic islands are not accessible by airplane and can only be reached by a two-week sea journey from Australia. The islands are home to no people, but instead a handful of insects, seabirds, seals and penguins.

https://www.theguardian.com/us-news/live/2025/apr/02/donald-trump-tariffs-trade-latest-live-us-politics-news?CMP=share_btn_url&page=with%3Ablock-67edb6068f08c57a3c9c71f9#block-67edb6068f08c57a3c9c71f9

Sorry guys, imported blubber is going to cost the Earth, now.

[muriel_volestrangler]

25. Trump's claims of the tariffs imposed by other countries are, surprise, surprise, complete bullshit

https://bsky.app/profile/did:plc:4kshoaytrzhgsziro6ywozul/post/3llud3ur64j2n



The made-up numbers he's been given to justify sending the global economy, including the USA, into recession:

Economists dispute Donald Trump’s claim today that the United States is “kind” to only levy tariffs of half of what other countries charge the US.

The chart Trump showed at his Rose Garden ceremony this afternoon included tallies of the rates foreign countries charge the United States, but those calculations included “currency manipulation and trade barriers”. It’s unclear how the Trump administration calculated those percentages.

https://www.theguardian.com/us-news/live/2025/apr/02/donald-trump-tariffs-trade-latest-live-us-politics-news?CMP=share_btn_url&page=with%3Ablock-67edb05c8f08188975c64279#block-67edb05c8f08188975c64279

“Currency manipulation and trade barriers” can mean, and be, whatever a con-artist wants them to be.

I found the complete list, including the dastardly Heard and McDonald Islands, on Twitter. Guess what? Every single country in the world is already charging the USA at least 10%! What are the odds, eh?

[underpants]

28. Thanks was looking for a summary. His Dairy claims are complete BS

https://www.democraticunderground.com/?com=view_post&forum=1002&pid=20200583

Dairy

To support his plan to increase tariffs, President Donald Trump has repeatedly said that the Canadian government charges U.S. farmers a 250% or 270% tariff on dairy products exported to Canada. That’s misleading. There are rates that high on the books, but they would only be charged if U.S. exports exceed predetermined tariff rate quotas, which the dairy exports don’t come close to meeting.


According to the IDFA’s calculations, at the end of 2024, the average fill rate for dairy products subject to a calendar year tariff quota was only 26.72%. For dairy products subject to a quota year tariff, the average fill rate as of March 2025 was only 21.24%.

https://www.factcheck.org/2025/04/trumps-misleading-claim-on-canadian-dairy-tariffs/

[Bernardo de La Paz]

43. Yes. Gaslighter gets to say "Scary 250% tariff!" when it is never actually applied (tRump has said 300%). . . nt

[Bernardo de La Paz]

42. Bogus on the face of it, when a list pretends every country is at 10% or above and most are exactly 10% "tariff charged"

Further, the countries don't charge the USA. Their companies and consumers pay those tariffs just like US companies and expecially consumers will pay the tRump Tax.

[muriel_volestrangler]

46. Turns out the figures are "US goods deficit with the country, divided by US goods imports from the country"

and if that's under 10% (it would be negative, if the US had a trade surplus in goods), then say it's 10% anyway.

They have now admitted this.

And they've only used the physical goods figures. They ignore the trade in services - which obviously can't be ignored if you're looking at actual trade, and relations, with countries.

This is the dumbest policy move by a country. Ever. Even insane kings didn't fuck the world up like this.

[MadScout]

34. This is going to kill my business...

It's not like there's a manufacturer for what I sell in the US, and it's such a niche industry; there never will be.

[dpibel]

36. "tariff plan is designed" my ass

Accurate writing is hard, especially when you've been trained (or instructed) to normalize whatever powerful people do.

The fact that The Idiot's people didn't know yesterday what The Big Tariff Plan was and the fact the The Big Tariff Plan includes unpopulated areas (as noted elsewhere in this thread) makes the use of "is designed" ridiculous.

"Trump claims the tariff plan will..." would be true.

But that would require casting the slightest of aspersions in the direction of The Maximum Leader.

No big newspaper is going to do that.

They might get hit with an executive order.

[MayReasonRule]

38. Those That Rid Us Of These Fetid Fascists Do No Wrong

https://www.cnn.com/markets/premarkets

[Canada Kid]

44. Tariff Constipation

He can take his tariffs and stuff them where the sun doesn't shine! All these supposed horrible countries should just cease doing business with the US, and much like Volkswagen, just stop shipping product to the US market. The insane idea that domestically businesses will rise up from the ashes and start producing quality goods overnight at a viable price is completely unrealistic. The cost of tooling, hiring, training, etc., just can't merit the ability to produce a profitable product any more, and anyone who manages to do so will be quickly undercut by competing countries. So, is it not better to NEGOIATE a deal with each country, not antagonize or browbeat, and reach a deal that benefits both parties? Belligerence and brash talk does not solve anything, just makes you look stupid and puts up walls between two supposed friendly countries. Unbelievable...that only one person can cause an entire worlds economy to be in turmoil...and he seems to get away with it...unchecked!

[HoldenTheDemocrat]

45. Reply Title: Trump's Reckless Tariffs: A Direct Hit to American Families and Our Economy

This announcement of a 10% tariff on all imports and additional punitive taxes on 60 countries is a disastrous economic move that will directly harm American families. It's presented as a "renaissance in domestic manufacturing," but it's a recipe for higher prices and economic instability.

Let's look at the facts. Economists, across the board, are warning that these tariffs will lead to increased prices on everyday goods. According to the Peterson Institute for International Economics, broad-based tariffs like these have historically led to significant price increases for consumers, particularly on essential goods such as groceries, cars, and building materials. This isn't just theory; it's economic reality.

Furthermore, the claim that this will "fill government coffers" is misleading. While there may be a short-term increase in revenue, the long-term effects will be detrimental. The Congressional Budget Office has consistently shown that tariffs lead to decreased economic growth, job losses in import-dependent industries, and ultimately, a weaker economy. This will lead to a decrease in tax revenue, not an increase.

The Democratic Party platform emphasizes the importance of fair trade policies that benefit American workers and consumers. We believe in a global economy that promotes cooperation and growth, not isolationism and protectionism. These tariffs represent a dangerous step backward, isolating the US from its allies and harming our economic competitiveness.

The claim of "unrelenting economic warfare" is a false narrative. While trade imbalances exist, they are best addressed through negotiation and diplomacy, not through unilateral tariffs that will harm American consumers. The National Bureau of Economic Research has shown that retaliatory tariffs from other countries are a common outcome of these types of policies, further harming American businesses and workers.

The timing of this is particularly concerning. After campaigning on addressing inflation, Trump is now intentionally creating policies that will drive prices even higher. This is a betrayal of the American people, and it will disproportionately impact low-income families who can least afford it. We must demand that our elected officials reject these harmful tariffs and prioritize policies that promote economic stability and prosperity for all.