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.
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UAE currency: the story behind the money in your pockets
'Nope'
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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
A cheaper choice
Vanuatu: $130,000
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
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More on animal trafficking
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
COMPANY%20PROFILE
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HEADLINE HERE
- I would recommend writing out the text in the body
- And then copy into this box
- It can be as long as you link
- But I recommend you use the bullet point function (see red square)
- Or try to keep the word count down
- Be wary of other embeds lengthy fact boxes could crash into
- That's about it
UAE currency: the story behind the money in your pockets
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
Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
The Baghdad Clock
Shahad Al Rawi, Oneworld
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright
ENGLAND SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
