Trump administration presented “reciprocal tariffs”: 20% for the EU, 10% for Ukraine
US President Donald Trump is imposing duties on all imported goods from all over the world.
The basic tariff will be 10%. In addition, individual increased duties will be imposed on certain countries or associations.
The 10% rate will apply to all goods from Ukraine imported to the United States. Individual duties will be imposed on goods from China, the EU, Japan, and a number of other countries. Mexico and Canada will be exempted from these duties, but the 25% rate introduced earlier will remain in effect. At the same time, Russia and Belarus are not on the list.
The new duties will come into effect on April 9, and the minimum basic duty will be applied on April 5.
US stock indices went down after the announcement of Donald Trump’s decision. Futures linked to the Dow Jones Industrial Average lost 1007 points, or 2.3%. S&P 500 futures fell by 3.4%. Nasdaq-100 futures lost 4.2%.
The European Union, China, Canada, and South Korea have already announced additional tariffs in response to the US decision.
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