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livemint.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Trump’s ‘Liberation Day’ tariffs: When, where, and how to watch – which countries and sectors will be most affected?
global trade tensions and sparking uncertainty in markets worldwide. These tariffs, designed to counter what Trump calls unfair trade practices, are expected to reshape global commerce in a significant way.
When and where to watch Trump’s tariff announcement?
The White House has scheduled the announcement for 4 p.m. Eastern Time (2000 GMT), and it will be broadcast live from the Rose Garden. Major news networks such as Fox News, CNN, and CNBC will provide live coverage, along with streaming platforms and the White House’s official website. The new duties will take effect immediately following the announcement.
What are Trump's new tariffs and when will they take effect?
A separate 25% global tariff on auto imports will be implemented starting April 3. The tariffs are expected to target a broad range of goods, adding to previous levies on cars, metals, and products from China.
Which countries will be affected the most?
According to U.S. Census Bureau data, the U.S. has significant trade deficits with key partners:
- China: -$295 billion
- European Union: -$236 billion
- Mexico: -$172 billion
- Vietnam: -$123 billion
- Taiwan: -$74 billion
- Japan: -$68 billion
- South Korea: -$66 billion
Given these figures, these countries are expected to bear the brunt of Trump's new tariffs. The administration has hinted that over 15 nations could face increased duties due to their large trade surpluses with the U.S.
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US goods trade deficit or surplus with major trading partners (2025)
China-295European Union-236Mexico-172Vietnam-123Taiwan-74Japan-68South Korea-66Canada-63India-46Thailand-46Switzerland-38Malaysia-25Indonesia-18South Africa-9Russia-2Turkey-1Saudi Arabia0Argentina+2Brazil+7United Kingdom+12Australia+18
Source: US
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