CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: U.S. President Donald Trump has finally unveiled his new trade policy. Speaking from the White House Rose Garden, Trump announced tariff rates under his “Liberation Day” proclamation. Heavy tariffs have been imposed on several countries, with China facing the highest at 34%, while India has been levied a 26% tariff. Shortly after the announcement, U.S. stock markets recorded a significant decline.

Far-Reaching Reciprocal Tariffs

According to CNBC, President Trump signed his aggressive and far-reaching “reciprocal tariff” policy at the White House. His plan sets a baseline tariff of 10% on all countries, with specific higher rates for key trade partners. These include China (34%), India (26%), the European Union (20%), Vietnam (46%), and Taiwan (32%).

China Faces the Highest Tariff, Canada Reacts Strongly

The White House clarified that the tariff on Beijing is in addition to the existing 20% tariff on Chinese imports, effectively raising the total tariff rate to 54%. Within hours of Trump’s announcement, stocks witnessed a sharp decline. Canadian Prime Minister Mark Carney strongly reacted, stating that Ottawa would respond forcefully to the U.S. tariffs. “We will fight back against these tariffs,” Carney told reporters ahead of a cabinet meeting. The U.S. Senate recently passed a law aimed at removing new tariffs on Canada.

South Korea Seeks Talks, Australia Stays Neutral

According to South Korea’s Ministry of Trade, Industry, and Energy, Acting President Han Duck-soo has ordered emergency support measures for industries affected by Trump’s tariffs. He urged the ministry to closely analyze the impact and actively engage in negotiations with Washington to minimize damage.

Meanwhile, Australian Prime Minister Anthony Albanese commented in a press conference that Trump’s decision “is not the act of a friend.” However, he ruled out imposing reciprocal tariffs against the U.S.

Impact on 180 Countries and Global Markets

Following Trump’s announcement, stock futures saw a sharp drop. Dow Jones Industrial Average futures fell by 1,007 points (2.3%), S&P 500 futures declined by 3.4%, and Nasdaq-100 futures plunged by 4.2%. Major multinational companies saw extended declines, with Nike and Apple losing around 7%. Large retailers dependent on imports suffered the most, with Five Below down 15%, Dollar Tree 11%, and Gap 8.5%. Tech stocks also faced risk-averse selling, with Nvidia dropping 4.5% and Tesla down 6%.

President Trump and the White House have outlined the U.S. reciprocal tariff structure, which will impact over 180 countries and regions. A tariff chart posted on social media indicated that other nations also impose tariffs on U.S. goods. Trump delivered his tariff policy announcement from the White House Rose Garden.

#USATariffs #StockMarketCrash #TradeWar #FinancialMarkets #WallStreet #GlobalEconomy #MarketVolatility #EconomicPolicies