He said on April 8, 2025, the day US President Donald Trump signs an energy-related executive order at the White House in Washington, DC.
Nathan Howard | Reuters
New sudden tariffs imposed by President Donald Trump came into effect early Wednesday morning on products imported from many countries around the world.
The so-called mutual tariff rounds exceed the 10% base rate imposed on many other countries over the weekend.
Overall, imports from 86 countries are currently subject to customs duties ranging from 11% to 84%.
China sees 104% net total tariff on goods exported to the US. The massive new tariff rate reflects the previously imposed 20% obligation, an additional 34% tariff, and a 50% increase that Trump signed late Tuesday, just before the move.
China’s Commerce Ministry said Tuesday, according to a CNBC translation. “China will never accept it. If the US insists in its own way, China will fight to the end.”
After China, Lesotho It will be subject to the largest single country tariff rate in the new round. African countries export to the United States are subject to a 50% obligation.
Cambodia is quickly delayed, with imports from that country subject to a 49% tariff from Wednesday.
The two neighbors in Laos and Vietnam’s Southeast Asia Cambodia are subject to duties of 48% and 46%, respectively.
US stock market benchmark booked the loss in the four days immediately following Trump’s announcement Customs duty on April 2nd.
The White House and Trump are venting concerns about a decline in the stock market.
“America will soon be very rich again,” Trump told the White House Tuesday.
Workers will process electronic products such as data cables on production lines at the production workshop at the electronic factory in Guangdong-Guangxi Cooperative Industrial Park, located in Longan County, Guangzhou Zhuang Autonomous Region, South China on April 8, 2025.
cfoto | Future Publishing | Getty Images
Asian markets have fallen on Wednesday as the latest tariffs came into effect, with South Korean benchmark Kospi entering the bear market.
To promote growth, India’s central bank reduced its policy rate by 25 basis points to 6% shortly after the US mutual tariffs began.
