"Under the 'Liberation Day' tariffs, the White House announced that every country, with a few exemptions due to sanctions and pre-existing trade deals, would be subject to a 10% baseline tariff on all goods they export to the US. Additionally, 85 countries that export more to the US than they import would be subject to higher tariffs of up to 50%."
"Chaos broke out immediately, and global stock markets plummeted. While Trump insisted publicly that 'big business is not worried about the tariffs,' he announced a 90-day pause of all tariffs exceeding the baseline 10% rate on April 9."
"During this pause, many trading partners such as the European Union, Vietnam, and the United Kingdom hastily negotiated trade deals in the hope of bringing down the announced tariff rates. Negotiations with China remained tumultuous over the next few months, with rounds of tit-for-tat tariffs reaching up to 125%."
On April 2, 2025, the US announced sweeping tariffs on all countries, termed 'Liberation Day' tariffs, imposing a 10% baseline tariff and higher rates for 85 countries. This declaration led to immediate chaos in global markets. Despite Trump's claims of business confidence, a 90-day pause on tariffs was initiated, prompting countries like the EU and Vietnam to negotiate trade deals. Negotiations with China escalated into tit-for-tat tariffs. By August 7, 2025, specific tariff rates were implemented, following extensive stockpiling by US importers in anticipation of the changes.
Read at www.dw.com
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