US President Donald Trump announced sweeping tariffs on US partners on Wednesday, with an aim to boost domestic manufacturing and protect local industries.
The world’s largest economy will impose a minimum of 10 per cent levies on all imports. However, the tariff rates are higher for some trading partners including China, India and the EU.
The baseline 10 per cent tariff will go into effect on April 5, while the higher reciprocal rates will start on April 9.
“April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again,” Mr Trump said while announcing the new tariffs in Washington on Wednesday.
What are reciprocal tariffs and how do they work?
The US will impose the same tax on imports that other countries charge on American exports on a product-by-product basis.
For example, if a country imposes a 2 per cent tax on certain US products that are exported, the US will levy the same amount of import tax on that category. The tit-for-tat tariffs are expected to disrupt trade around the world and make goods costlier for US consumers and businesses.
Which countries are facing higher tariffs?
Some of the biggest economies in the world are being charged higher tariffs, including 34 per cent for China, 26 per cent for India and 20 per cent for the EU. Countries including Vietnam, Pakistan, Laos, Thailand, Sri Lanka, Switzerland and South Africa are also facing higher tariffs as part of the new trade policy.
Lesotho as well as Saint Pierre Miquelon are subject to a 50 per cent tariff, the highest of the charges announced, followed by Cambodia at 49 per cent, Laos at 48 per cent, Madagascar (47 per cent), Vietnam (46 per cent), Sri Lanka and Myanmar (both 44 per cent), Syria (41 per cent), Mauritius (40 per cent) and Iraq (39 per cent).
Serbia, Botswana, Taiwan and Indonesia are also facing higher tariff charges.
China has been hit particularly hard by the new tariffs, with the total levy on imports reaching more than 50 per cent after the world’s second largest economy was slapped with 20 per cent duties earlier this year.
Meanwhile, countries in the Middle East including Saudi Arabia, the UAE, Egypt and Morocco will have a tariff rate of 10 per cent. Syria and Iraq are subject to tariffs of 41 per cent and 39 per cent, respectively.
A group of islands near Antarctica including Heard Island and McDonald Islands have also been levied with a 10 per cent tariff.
Canada and Mexico, the two largest US trading partners, already face 25 per cent tariffs on many goods and will not face additional levies from Wednesday's announcement.
Russia, North Korea, Cuba and Belarus are not included in the list as they already face extensive sanctions and trade is minimal with the US.
How are countries responding?
China has firmly opposed the tariffs and will adopt countermeasures to safeguard its rights and interests, Xinhua news agency said, quoting a representative of the Ministry of Commerce on Thursday.
“There is no winner in a trade war, and protectionism leads nowhere,” the representative said. The approach by the US disregards the balance of interests achieved through many years of multilateral trade negotiations and ignores the fact that the US has long benefited from international trade, the representative added.
The tariffs are “a major blow to businesses and consumers worldwide. Europe is prepared to respond”, warned European Commission President Ursula von der Leyen.
“Tariffs are taxes, paid by the people. But Europe has everything to protect our people and our prosperity. We will always promote and defend our interests and values,” she said in a post on social media platform X on Thursday.
Ajay Sahai, chief executive of the Federation of Indian Export Organisations, told AFP the tariffs will “hurt demand” for its exports.
“The tariffs slapped on India are definitely both high and higher than expected,” he said.
But he said rival nations like China and Vietnam had been hit harder, which opened up space for India to gain a market share.
What comes next?
The new tariffs are likely to cause a global trade war that threatens to stoke inflation and stall economic growth. Oil and global stocks have already dropped following the announcement on concerns related to global growth.
The International Monetary Find will probably lower the economic outlook slightly in its next World Economic Outlook update in about three weeks, but “we don't see recession on the horizon”, its managing director Kristalina Georgieva told Reuters this week.
The IMF in January raised its global economic growth estimate for this year to 3.3 per cent from 3.2 per cent, with a half percentage-point upgrade to the US outlook – to 2.7 per cent – accounting for most of that increase.
Mohammed bin Zayed Majlis
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
MATCH INFO
England 19 (Try: Tuilagi; Cons: Farrell; Pens: Ford (4)
New Zealand 7 (Try: Savea; Con: Mo'unga)
Read more about the coronavirus
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
KILLING OF QASSEM SULEIMANI
The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
More from Neighbourhood Watch:
More from Neighbourhood Watch:
More on animal trafficking
The years Ramadan fell in May
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
More on animal trafficking
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
More from Rashmee Roshan Lall
The years Ramadan fell in May
More on Quran memorisation:
The five pillars of Islam
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
More Expo 2020 Dubai pavilions:
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Killing of Qassem Suleimani
THREE
%3Cp%3EDirector%3A%20Nayla%20Al%20Khaja%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Jefferson%20Hall%2C%20Faten%20Ahmed%2C%20Noura%20Alabed%2C%20Saud%20Alzarooni%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
Killing of Qassem Suleimani
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
All%20The%20Light%20We%20Cannot%20See%20
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ESteven%20Knight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMark%20Ruffalo%2C%20Hugh%20Laurie%2C%20Aria%20Mia%20Loberti%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E1%2F5%C2%A0%3C%2Fp%3E%0A
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
