Duties 10% apply from today (5.4.2025) for a plethora of products imported into USA From almost around the world, following President Donald Trump’s decision to impose duties in all directions by affecting world trade.
These duties excludes products such as oil, gas, gold, copper, silver, palladium, timber for construction, semiconductors, medicinal products and minerals that do not exist in the US and are added to existing ones.
The new duties also do not concern steel, aluminum and imported cars that have already imposed a 25%duties.
The account will be even greater than April 9 for countries exporting more products to the US than they import from it. China’s import duties will reach 54%, for them from the EU 20%, for Vietnam 46%and for Japan 24%…
According to the official document presented yesterday (4.4.2025) by the US government, the new duties concern about 80 countries and regions, including 27 EU member states.
However, the official catalog have been removed by the Herd and McDonald islands in the Antarctic area, where Trump had announced that duties would be imposed, despite the fact that only penguins live there.
The UN Conference on Trade and Development (UNCTAD) expressed its concern yesterday as the US list still includes some of the poorest countries in the world.
UNCTAD emphasized that the least developed countries and developing small island states are responsible for 1.6% and 0.4% respectively of the US trade deficit.
Donald Trump justified his decision on Wednesday (2.4.2025) to impose additional duties on the US imported products, referring to a “national emergency” to reduce the US deficit.
The tariff barriers announced by the Republican will be as high, according to economists, as they were imposed by the US in the 1930s, a time when global trade was not as developed and countries depended less on the production of other states.
Beijing has already responded by announcing the imposition of an additional 34% of April on April 10 for US imported products, escalating the trade war, and other countries are expected to react.
In the meantime markets collapse. Within two days, 6 trillion was lost. Dollars from the US Stock Exchange, while European and Asian stock markets have dipped.
“My policies will never change,” Trump replied in a post on Truth Social written all with capital. “This is a good time to become rich, richer than ever !!!” he also added.
Trump also asked US Federal Bank President Jerome Powell to reduce interest rates, considering that this is “perfect” thanks to the progress made at some prices (oil, eggs) after returning to the White House in January.
A few minutes later, however, Powell presented in dark colors the prospects of the American economy after new duties: possibly greater inflation, less growth and greater unemployment.
Source: RES – EIA