President Donald Trump has announced that the reciprocal tariffs he plans to unveil this week will apply to all countries, rather than just the 10 to 15 nations with the largest trade imbalances.
Designating Wednesday as “Liberation Day,” Trump intends to reveal a comprehensive tariff plan that includes raising tariffs on all Chinese goods, in addition to existing tariffs on steel, aluminum, and automobiles, according to NBC News.
“You’d start with all countries,” Trump stated to reporters aboard Air Force One. “Essentially all of the countries that we’re talking about.”
While he did not specify which countries would be affected, White House economics adviser Kevin Hassett recently indicated to Fox Business that the administration would focus on 10 to 15 nations with the most significant trade imbalances.
Trump views tariffs as a means to negotiate better trade terms for the United States and to protect the domestic economy from unfair international competition. However, concerns about a potential trade war are causing market instability and raising fears of a U.S. recession.
The president has committed to matching tariffs imposed by countries that levy fees on U.S. exports and has stated that he will implement a series of reciprocal tariffs against those nations.
In February, Trump signed a memorandum directing U.S. trade officials to compile a list of specific countermeasures for each country. He hinted last week that he might consider reducing his reciprocal tariff plans, potentially applying lower rates in some cases than those charged by other nations on U.S. goods.
This announcement comes as the British government is racing to secure a last-minute post-Brexit trade agreement with the United States to avoid—or at least mitigate—tariffs on European imports. Since leaving the European Union in 2020, the U.K. has been seeking a new trade deal with the U.S., although negotiations had stalled under the previous Conservative government. Current Prime Minister Keir Starmer of the Labour Party met with Trump at the White House in February and left with optimism about finalizing a deal.
“We’re engaged in discussions with the United States about mitigating the impact of tariffs,” Starmer said as the weekend approached. Trump echoed that optimism, suggesting a “great” deal could be in the works to help the U.K. avoid impending tariffs. Business Secretary Jonathan Reynolds recently traveled to Washington to continue negotiations, and Trump and Prime Minister Starmer spoke again by phone earlier this week to discuss the way forward.
Negotiations have intensified ahead of April 2—designated “Liberation Day” by Trump—when he is expected to announce a sweeping package of reciprocal tariffs targeting several major trading partners, including the U.K. and the European Union.
While Trump has already imposed tariffs on imports from Canada, Mexico, and China, he has refrained from penalizing the EU or the U.K. thus far, although he has indicated that such actions are likely. “Am I going to impose tariffs on the European Union? Do you want the truthful answer, or should I give you a political answer? Absolutely,” Trump told reporters in January. “Absolutely. The European Union has treated us so terribly,” he added, reiterating his longstanding concerns about the bloc’s trade practices.
Trump has indicated plans to impose significant tariffs on imported vehicles and auto parts, with additional tariffs on other goods expected to follow.
Starmer mentioned earlier this week, “We’re engaged in discussions with the United States about mitigating the impact of tariffs.” Finance Minister Rachel Reeves stated on Thursday that Britain would not seek to “escalate” trade wars, a stance that contrasts with Canada and European nations, which have vowed to “retaliate” despite already imposing tariffs on American goods. For example, the EU imposes a 10 percent tariff on American automobiles, while European cars entering the United States face only a 2.5 percent tariff.
