BREAKING: Trump’s New Tariff Plan To Hit All Countries, Raising Global Trade Tensions
US President Donald Trump has confirmed that the new tariffs he plans to announce this week will apply to all countries, not just those with the biggest trade imbalances with the United States. Speaking to reporters aboard Air Force One, Trump described the move as part of America’s “Liberation Day,” reinforcing his administration’s aggressive stance on trade.
The upcoming tariffs, set to be unveiled on Wednesday, will add to existing levies on aluminium, steel, and vehicles, as well as increased duties on all Chinese imports. Trump maintained that while the measures would affect all countries, the US would be “far more generous” and “kinder” than other nations had been toward it.
The announcement has rattled global markets, with Asian stock exchanges opening lower on Monday amid concerns about the broader economic impact. Japan’s Nikkei 225 index fell by 4%, Hong Kong’s Hang Seng declined 1.6%, and South Korea’s Kospi dropped around 2.5%. Investors are wary that the escalating trade tensions could trigger a global slowdown or even push the US toward a recession.
Trump’s advisers have defended the tariffs, arguing that they will generate significant revenue and create jobs in the US. Pete Navarro, one of Trump’s top trade advisers, estimated that a tax on all car imports alone could bring in $100 billion annually, while total planned tariffs could generate as much as $600 billion—roughly a fifth of all US goods imports. A White House fact sheet released last week suggested that a 10% tariff on every import could help create nearly 3 million jobs in the US.
However, the approach has sparked concerns among trade partners, many of whom are already preparing retaliatory measures. The European Union and Canada, among others, have signaled their readiness to impose counter-tariffs in response to Washington’s latest moves.
The new tariff plans also raise the stakes for ongoing trade negotiations between the US and other countries, including the UK. White House economic adviser Kevin Hassett had previously suggested that the tariffs would be targeted at 10 to 15 countries with the worst trade deficits, though he did not specify which nations would be affected.
Trump has long viewed tariffs as both a tool to protect American industries from unfair competition and a means of negotiating better trade deals. His administration insists that the policy will benefit US businesses and workers in the long run, despite fears of economic disruption and potential job losses in sectors reliant on imports.
In a separate development, Trump also confirmed that a deal regarding the sale of TikTok’s US operations by its Chinese parent company, ByteDance, would be reached before Saturday’s deadline. The short-video platform was given until 5 April to find a non-Chinese buyer or face a ban in the US over national security concerns. The restriction was originally set to take effect earlier in the year under a law passed by the Biden administration.
As global trade tensions continue to mount, Trump’s latest tariff plans are expected to have far-reaching consequences, testing the resilience of international markets and relations.
