Trump Tariffs Vary by Country, Sector, with 10% Minimum

At a White House press conference on April 2, President Donald Trump announced global tariffs that will affect nearly all imports, although the country-by-country percentage varies widely. The base rate is 10%, which will apply to the UK, Brazil, Singapore, Chile, Australia, Turkey and Colombia, among others.
Products from the European Union (EU) will be subject to a 20% tariff. The 34% tariff announced for China is in addition to the previously announced 20% tariff on Chinese imports, bringing the effective rate to 54%. The cumulative percentage of tariffs for Chinese goods was confirmed by the White House. Additionally, the White House announced an end to the de minimis exemption on individual Chinese imports below $800.
Effective Import Tariffs for Key Countries
· China: 34% (54% effective, factoring in previously announced 20% tariffs)
· Taiwan: 32%
· Japan: 24%
· European Union: 20%
· United Kingdom: 10%
· Brazil: 10%
· Singapore: 10%
· Vietnam: 46%
Taiwan, a critical trade partner and source of the majority of the world's semiconductors, has a rate of 32%. The White House claimed the announced tariffs were at a "discount" relative to what other countries levy against the US, with the effective tariff rate against US goods as much as double, factoring in claimed currency manipulation, regulations, or value-added taxes, among other factors.
For automobiles specifically, a 25% tariff applies. Vietnam, an increasingly popular manufacturing base for consumer goods from companies looking to diversify away from dependence on China, will be subject to a 46% tariff. Thailand, a significant manufacturing base for Tier-1 and Tier-2 automotive suppliers, is subject to a 36% tariff. Israel, which on Tuesday, April 1, announced it would drop all tariffs against US imports, will have a 17% tariff.
In a relief to manufacturing, temporary exemptions for pharmaceuticals, semiconductors, steel, aluminum and lumber were announced, although separate, categorical tariffs are expected for those sectors at a future date. Although President Trump walked away after signing the executive order without taking questions from reports, many believe the announcement of these tariffs are a first step to prompt countries to reach out to Trump to re-negotiate trade treaties on a country-by-country basis.