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Trump announces new US tariffs of at least 10% on all imports

Trump announces new US tariffs of at least 10% on all imports

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The US stock market has suffered sharp falls in response to the tariffs, with the Dow Jones Industrial Average plummeting by 1,137 points, or 2.7%. Other major stock indexes in the US and around the world have also fallen, with the FTSE 100 in London sliding 1% and the Dax in Germany dropping 1.61%. The tariffs have sparked widespread criticism and anxiety around the world, with many warning of the dangers of a trade war. Trump, however, claims that the tariffs are necessary to protect American workers and industries, and that they will "bring back our country" from the brink of economic collapse.

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Donald Trump
Republican Party
1. Today we are standing up for the American worker and we are finally putting America first.
2. For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike.
3. This is going to be a big moment.
4. If you want your tariff rate to be zero, then you build your product in America.
5. They rip us off, it's so pathetic. Now, we're going to charge.
6. There is a period of transition, because what we're doing is very big.
7. We truly can be very wealthy. We can be so much wealthier than any country, it's not even believable, but we're getting smart.
8. They're wonderful people and wonderful everything, but they ban American beef.
9. I blame former presidents and past leaders who weren't doing their job. They let it happen, and they let it happen to an extent that nobody can even believe. That's why, effective at midnight, will impose a 25% tariff on all foreign-made automobiles.
10. To all of the foreign presidents, prime ministers, kings, queens, ambassadors and everyone else who will soon be calling to ask for exemptions from these tariffs, I say – terminate your own tariffs, drop your barriers, don't manipulate your currencies … and start buying tens of billions of dollars of American goods.
11. Yet we imported $3bn of Australian beef from them just last year alone. They won't take any of our beef. They don't want it because they don't want it to affect their farmers and, you know, I don't blame them, but we're doing the same thing right now, starting at midnight tonight.
12. From 1789 to 1913 we were a tariff-backed nation, and the United States was proportionately the wealthiest it has ever been.
13. Foreign leaders have stolen our jobs. Foreign cheaters have ransacked our factories. And foreign scavengers have torn apart our once-beautiful American dream.
14. The high costs of new tariffs threaten investment, jobs, supply chains and, in turn, America's ability to outcompete other nations and lead as the preeminent manufacturing superpower.
15. This means USMCA (US-Mexico-Canada Agreement) compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration ... orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.
Karoline Leavitt
Republican Party
1. April 2, 2025, will go down as one of the most important days in modern American history.
Keir Starmer
Labour Party
1. A trade war is in nobody's interest, and the country deserves, and we will take, a calm, pragmatic approach.
Ursula Von Der Leyen
European Commission
1. We do not necessarily want to retaliate but, if it is necessary, we have a strong plan to retaliate and we will use it.
2. We will also be watching closely what indirect effects these tariffs could have. Because we cannot absorb global overcapacity, nor will we accept dumping on our markets.
Maroš Šefčovič
European Commission
1. We'll act in a calm, carefully phased, unified way, as we calibrate our response, while allowing adequate time for talks. But we won't stand idly by, should we be unable to reach a fair deal.
Giorgia Meloni
Brothers of Italy
1. This is the reason why I remain convinced that we must work to avert a trade war.
Mark Carney
Liberal Party
1. It's clear the U.S. is no longer a reliable partner.
2. It's essential to act with purpose and with force, and that's what we will do.
3. We will not disadvantage Canadian producers and Canadian workers relative to American workers.
Anthony Albanese
Australian Government
1. It will push up costs for American households.
2. President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10%.
3. No one has got a better deal. That doesn't mean it's a good thing [but] it's very clear that president Trump was determined to go down this road.
4. We will not weaken the measures that protect our farmers and producers from the risks of disease or contamination.

Trump announces new US tariffs of at least 10% on all imports

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