Overview

• President Donald Trump announced reciprocal tariffs, including a minimum 10% duty on all imports and higher rates for specific countries, such as 20% for the EU and 34% for China.
• The 25% tariff on foreign-made automobiles is already in effect as of April 3, with additional tariffs set to begin on April 5 and April 9.
• Global markets have reacted negatively, with stock indices falling and economists warning of inflation and potential recession in the U.S.
• The European Union has expressed willingness to negotiate but is preparing countermeasures if talks fail, with a response expected by the end of April.
• China and other nations have condemned the tariffs and are planning retaliatory measures, increasing fears of a global trade war.