Everything about Trump’s tariffs
Trump, the president of the United States, yesterday released a graphic detailing the additional tariffs that will impact commerce with nations throughout the globe. His presentation of the list is here.
Trump’s tariff graphic
This is the "reciprocal tariffs" table that was shown during Trump's speech. "Currency manipulation and trade barriers" are among the "tariffs charged to the USA" that Trump has defined.
Trump’s New Tariffs 2025
| Country | New Tariffs in USA | Tariffs Charged to the USA |
|---|---|---|
| China | 34% | 67% |
| European Union | 20% | 39% |
| Vietnam | 46% | 90% |
| Taiwan | 32% | 64% |
| Japan | 24% | 46% |
| India | 26% | 52% |
| South Korea | 25% | 50% |
| Thailand | 36% | 72% |
| Switzerland | 31% | 61% |
| Indonesia | 32% | 64% |
| Malaysia | 24% | 47% |
| Cambodia | 49% | 97% |
| United Kingdom | 10% | 10% |
| South Africa | 30% | 60% |
| Brazil | 10% | 10% |
| Bangladesh | 37% | 74% |
| Singapore | 10% | 10% |
| Israel | 17% | 33% |
| Philippines | 17% | 34% |
| Chile | 10% | 10% |
| Australia | 10% | 10% |
| Pakistan | 29% | 58% |
| Turkey | 10% | 10% |
| Sri Lanka | 44% | 88% |
| Colombia | 10% | 10% |
| Peru | 10% | 10% |
| Nicaragua | 18% | 36% |
| Norway | 15% | 30% |
| Costa Rica | 10% | 17% |
| Jordan | 20% | 40% |
| Dominican Republic | 10% | 10% |
| United Arab Emirates | 10% | 10% |
| New Zealand | 10% | 20% |
| Argentina | 10% | 10% |
| Ecuador | 10% | 12% |
| Guatemala | 10% | 10% |
| Honduras | 10% | 10% |
| Madagascar | 47% | 93% |
| Myanmar | 44% | 88% |
| Tunisia | 28% | 55% |
| Kazakhstan | 27% | 54% |
| Serbia | 37% | 74% |
| Egypt | 10% | 10% |
| Saudi Arabia | 10% | 10% |
| El Salvador | 10% | 10% |
| Côte d’Ivoire | 21% | 41% |
| Laos | 48% | 95% |
| Botswana | 37% | 74% |
| Trinidad and Tobago | 10% | 12% |
| Morocco | 10% | 10% |
| Algeria | 30% | 59% |
| Oman | 10% | 10% |
| Uruguay | 10% | 10% |
| Bahamas | 10% | 10% |
| Lesotho | 50% | 99% |
| Ukraine | 10% | 10% |
| Bahrain | 10% | 10% |
| Qatar | 10% | 10% |
| Mauritius | 40% | 80% |
| Fiji | 32% | 63% |
| Iceland | 10% | 10% |
| Kenya | 10% | 10% |
| Liechtenstein | 37% | 73% |
| Guyana | 38% | 76% |
| Haiti | 10% | 10% |
| Bosnia and Herzegovina | 35% | 70% |
| Nigeria | 14% | 27% |
| Namibia | 21% | 42% |
| Brunei | 24% | 47% |
| Bolivia | 10% | 20% |
| Panama | 10% | 10% |
| Venezuela | 15% | 29% |
| North Macedonia | 33% | 65% |
| Ethiopia | 10% | 10% |
| Ghana | 10% | 17% |
| Moldova | 31% | 61% |
| Angola | 32% | 63% |
| Democratic Republic of the Congo | 11% | 22% |
| Jamaica | 10% | 10% |
| Mozambique | 16% | 31% |
| Paraguay | 10% | 10% |
| Zambia | 17% | 33% |
| Lebanon | 10% | 10% |
| Tanzania | 10% | 10% |
| Iraq | 39% | 78% |
| Georgia | 10% | 10% |
| Senegal | 10% | 10% |
| Azerbaijan | 10% | 10% |
| Cameroon | 11% | 22% |
| Uganda | 10% | 20% |
| Albania | 10% | 10% |
| Armenia | 10% | 10% |
| Nepal | 10% | 10% |
| Sint Maarten | 10% | 10% |
| Falkland Islands | 41% | 82% |
| Gabon | 10% | 10% |
| Kuwait | 10% | 10% |
| Togo | 10% | 10% |
| Suriname | 10% | 10% |
| Belize | 10% | 10% |
| Papua New Guinea | 10% | 15% |
| Malawi | 17% | 34% |
| Liberia | 10% | 10% |
| British Virgin Islands | 10% | 10% |
| Afghanistan | 10% | 49% |
| Zimbabwe | 18% | 35% |
| Benin | 10% | 10% |
| Barbados | 10% | 10% |
| Monaco | 10% | 10% |
| Syria | 41% | 81% |
| Uzbekistan | 10% | 10% |
| Republic of the Congo | 10% | 10% |
| Djibouti | 10% | 10% |
| French Polynesia | 10% | 10% |
| Cayman Islands | 10% | 10% |
| Kosovo | 10% | 10% |
| Curaçao | 10% | 10% |
| Vanuatu | 22% | 44% |
| Rwanda | 10% | 10% |
| Sierra Leone | 10% | 10% |
| Mongolia | 10% | 10% |
| San Marino | 10% | 10% |
| Antigua and Barbuda | 10% | 10% |
| Bermuda | 10% | 10% |
| Eswatini | 10% | 10% |
| Marshall Islands | 10% | 10% |
| Saint Pierre and Miquelon | 50% | 99% |
| Saint Kitts and Nevis | 10% | 10% |
| Turkmenistan | 10% | 10% |
| Grenada | 10% | 10% |
| Sudan | 10% | 10% |
| Turks and Caicos Islands | 10% | 10% |
| Aruba | 10% | 10% |
| Montenegro | 10% | 10% |
| Saint Helena | 10% | 15% |
| Kyrgyzstan | 10% | 10% |
| Yemen | 10% | 10% |
| Saint Vincent and the Grenadines | 10% | 10% |
| Niger | 10% | 10% |
| Saint Lucia | 10% | 10% |
| Nauru | 30% | 59% |
| Equatorial Guinea | 13% | 25% |
| Iran | 10% | 10% |
| Libya | 31% | 61% |
| Samoa | 10% | 10% |
| Guinea | 10% | 10% |
| Timor-Leste | 10% | 10% |
| Montserrat | 10% | 10% |
| Chad | 13% | 26% |
| Mali | 10% | 10% |
| Maldives | 10% | 10% |
| Tajikistan | 10% | 10% |
| Cabo Verde | 10% | 10% |
| Burundi | 10% | 10% |
| Guadeloupe | 10% | 10% |
| Bhutan | 10% | 10% |
| Martinique | 10% | 10% |
| Tonga | 10% | 10% |
| Mauritania | 10% | 10% |
| Dominica | 10% | 10% |
| Micronesia | 10% | 10% |
| Gambia | 10% | 10% |
| French Guiana | 10% | 10% |
| Christmas Island | 10% | 10% |
| Andorra | 10% | 10% |
| Central African Republic | 10% | 10% |
| Solomon Islands | 10% | 10% |
| Mayotte | 10% | 10% |
| Anguilla | 10% | 10% |
| Cocos (Keeling) Islands | 10% | 10% |
| Eritrea | 10% | 10% |
| Cook Islands | 10% | 10% |
| South Sudan | 10% | 10% |
| Comoros | 10% | 10% |
| Kiribati | 10% | 10% |
| São Tomé and Príncipe | 10% | 10% |
| Norfolk Island | 29% | 58% |
| Gibraltar | 10% | 10% |
| Tuvalu | 10% | 10% |
| British Indian Ocean Territory | 10% | 10% |
| Tokelau | 10% | 10% |
| Guinea-Bissau | 10% | 10% |
| Svalbard and Jan Mayen | 10% | 10% |
| Heard and McDonald Islands | 10% | 10% |
| Reunion | 73% | 37% |
“Reciprocal - that means they do it to us, and we do it to them,” Donald Trump said while waving a large chart in the White House Rose Garden, implying that his new tariff proposal was straightforward. Very basic. There's no easier way than that.
Maybe a little too simplistic. Some of the world's foremost authorities have been taken aback by the methodology employed to determine the most crucial figures in global commerce, politics, and economics.
In order to determine each country's trade deficit for 2024, the White House divided the entire value of imports by that deficit. In an effort to be "kind," Trump stated he would provide a discount, so he cut the amount in half. A formula was even derived from the computation.
Consider the following data for China:
A trade deficit of $291.9 billion goods
Imports of commodities totaling $438.9 billion
You get 67% from dividing those numbers by 0.67.
And when divided in half, it becomes 34%
To guarantee that tariffs would be imposed whatever, the White House used a 10% baseline for nations with small deficits. This held true for the United Kingdom, which, according to the US Census Bureau, had a surplus of about $12 billion in 2024.
For weeks, Washington had been discussing a comprehensive policy exercise to determine the amount of tariff and non-tariff trade obstacles, including what it saw as "currency manipulation," local rules, taxes like VAT, and laws and regulations.
Since VAT is a sales tax paid on both locally manufactured items and foreign imports, its inclusion in this strategy alone raised suspicions among analysts.
But it seems the White House has admitted it was too easy when it came to this verdict:
To equalize our trade deficits with our trading partners, the United States determines the appropriate tariff rate, which is known as a reciprocal tariff. For the sake of this computation, let's pretend that tariffs and non-tariff factors work together to keep trade imbalances from going away.
Among its many flaws is the fact that it simplifies the causes of trade deficits far too much. When a nation's exports exceed its imports, a trade deficit is created. From the 1970s onward, the US has maintained a continuous budget imbalance. The demand for foreign currency to purchase imported goods exceeds the demand for native currency, which causes a country's currency to fall. Eventually, this causes the trade imbalance to balance.
The United States has had bigger trade deficits than any other nation despite being the global reserve currency, which is utilized for payments and international trade throughout the global financial system.
Part of the explanation for the particularly huge trade deficits and increased tariffs for poorer countries is that US goods are too expensive for consumers in developing economies to buy.
According to Adam Tooze, an economic historian from Columbia University in the US, several south-east Asian countries have "grotesque" policies, such as Vietnam's 46% tariff, Laos's 48% tariff, and Cambodia's 49% tariff.
This has little to do with their savage anti-American trade policies and everything to do with their relative poverty. According to him, the United States does not produce many things that are relevant to their imports.
Many large manufacturers now use Vietnam as a link in their worldwide supply chains. This includes American apparel and tech giants like Nike, Intel, and Apple.
Lesotho, a small nation in southern Africa and one of the world's poorest, is another unusual case in point; it is subject to a tariff of fifty percent. Its diamonds and clothing are major exports to the United States, highlighting the importance of global supply chains for rare minerals to the American economy. In recent years, the United States has sought to promote industrialization in African nations through policies that entice brands like Levi Strauss and Wrangler.
But Trump's "America First" policy has caused a seismic shift in the global economy by reversing decades of efforts by previous US administrations to impose economic influence abroad.
“This is not genuine trade policy or grand strategy," Tooze remarked. "The boss despises trade deficits, and his eager henchmen devised a formula—no matter how naive—that satisfied the requirement."