President Donald Trump imposed sweeping reciprocal tariffs on the majority of countries that trade with the U.S.
“Reciprocal? That means they do it to us, and we do it to them. Very simple. Can’t get any simpler than that. This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence,” he said Wednesday.
On Thursday, U.S. stocks sold off sharply on the developments.
WHAT TO KNOW ABOUT PRESIDENT TRUMP’S ‘LIBERATION DAY’ TARIFFS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 40910.11 | -1,315.21 | -3.11% |
| SP500 | S&P 500 | 5444.51 | -226.46 | -3.99% |
| I:COMP | NASDAQ COMPOSITE INDEX | 16691.727473 | -909.32 | -5.17% |
While the tariff war between Canada, Mexico and China has been ongoing, the list rolled out Wednesday had a few surprises that were steeper than expectations, according to experts. Especially for Asian nations.
Here’s the running tally outlined by the White House.
Tariff scoreboard
Vietnam and Cambodia are facing some of the larger hits.
“Vietnam, great negotiators, great people. They like me. I like them. The problem is they charge us 90%. We’re going to charge them a 46% tariff. Taiwan, where they took all of our computer chips and semiconductors. We used to be the king, right? We had everything. We had all of it. Now we have almost none of it,” Trump said.
He noted Taiwan Semiconductor’s $100 billion commitment to invest in U.S. manufacturing that was announced last month.
“Look at Cambodia, 97%. We’re going to bring it down to 49%. And they made a fortune with the United States of America,” Trump said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. | 159.21 | -11.14 | -6.54% |
LIVE MARKET UPDATES: TARIFF PUSH ROILS STOCKS
Trump also lashed out at Japan for up-charging the U.S. beyond the 46% tariff.
“Japan, 46%. They would charge us 46% and much higher for certain items like cars, you know, little items like cars, 46% we’re charging them 24%,” he said.
Trump also called out the European Union for operating like a one-way street.
WHEN WILL TARIFF PRICE HIKES KICK-IN?
“The European Union bans imports of most American poultry, you understand? They say, ‘We want to send you our cars. We want to send you everything. But we’re not going to take anything that you have,'” he said.
Some smaller nations, such as Laos and Botswana, were not spared. Laos, for example, charges the U.S. 90%.
Ukraine was put on notice despite the ongoing war with Russia. Bosnia and Fiji also got dinged.
The Falkland Islands, which charges the U.S. 80%, was among those hit with the larger tariffs.
