A new round of steep tariffs imposed by President Donald Trump took effect early Wednesday morning, impacting products imported from numerous countries across the globe. This latest implementation of reciprocal tariffs exceeds the base rate of 10% that was levied on many countries just over the weekend. In total, imports from 86 nations are now facing increased tariffs ranging from 11% to a staggering 84%.
China, in particular, will face the highest cumulative tariffs, amounting to a net total of 104% on its exported goods to the United States. This significant new tariff rate is a culmination of various duties: a previously imposed 20% duty, an additional 34% tariff, and a last-minute 50% increase that Trump signed into law late Tuesday. This escalation in tariffs on Chinese products is a part of the ongoing trade tensions between the two nations.
According to a translation by CNBC, China's Commerce Ministry criticized the U.S. decision, stating that the threat to escalate tariffs on China is a “mistake on top of a mistake.” The ministry further emphasized that China will never accept such measures and warned that if the U.S. continues on this path, China will “fight to the end.” This strong statement underscores the severe implications of these tariffs on international trade relations.
Following China, Lesotho now faces the highest single-nation tariff rate in this new round of tariffs, with its exports to the U.S. subjected to a hefty 50% duty. Close behind, Cambodia’s imports are now affected by tariffs of 49%, effective immediately. Additionally, two neighboring countries of Cambodia in Southeast Asia, Laos and Vietnam, will see duties of 48% and 46%, respectively. These increases are part of a broader strategy that aims to protect domestic industries and address trade imbalances.
The new tariffs signify a dramatic shift in U.S. trade policy, as President Trump continues to leverage import duties as a tool for economic negotiation. As these tariffs take effect, the global economic landscape may experience significant shifts, prompting countries to reevaluate their trade strategies and responses.
