US President Donald Trump escalated the global trade war by announcing a series of reciprocal tariffs aimed at matching duties imposed by other countries on US goods. At a White House event, Trump declared, "It’s our declaration of independence." He explained that a 10% baseline tariff would be applied to all imports into the United States, with higher duties for some of its biggest trading partners.
Under this new plan, China would face tariffs of 34%, the European Union would be charged 20%, and Japan would have a 24% tariff. India, meanwhile, would face an import duty of 26%.
The announcement sparked swift reactions from US trading partners, many of whom vowed to retaliate. They also urged Trump to negotiate deals to avoid such tariffs.
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