Trump has said that beginning April 2, the United States will implement uniform tariffs on all imports, without any exceptions. This move is expected to significantly impact global trade dynamics, the Guardian said. As the situation develops, companies and consumers are advised to stay informed about the potential impacts of these new trade policies.

Chinese newspaper, the People’s Daily, published an article enlisting the impact of US tariffs on American farmers and tech companies. The piece, written under ‘Zhong Sheng’ (which means Voice of China) is often used to express China’s foreign policy views. John Gong, a former consultant to China’s Commerce Ministry, told Bloomberg that this article appears to be China’s final attempt to prevent President Trump’s tariffs.

White House Press Secretary Karoline Leavitt on Tuesday criticised several countries for their high tariffs on US products. She also slammed India for imposing a 100% tariff on American agricultural goods and a 150% tariff on American alcohol. Leavitt also pointed out that Canada applies nearly a 300% tariff on American cheese and butter, while Japan imposes a 700% tariff on American rice. She further reiterated that Trump is looking for fair and balanced trade practices.

A former trade official from President Trump’s first term told Reuters that the US government may impose comprehensive tariff rates on different countries at somewhat lower levels than previously discussed. This approach would affect more countries than the approximately 15 that Treasury Secretary Scott Bessent had earlier identified as primary targets due to their significant trade surpluses with the US.​ Secretary Bessent has indicated that these reciprocal tariffs would represent the maximum US tariff levels that countries will face. He noted that these rates could decrease if the affected countries meet the administration’s demands.​

Donald Trump has called tariffs a “beautiful word” suggesting that they can help build American economy, build jobs, raising public revenue and act as a bargaining chips for extracting concessions from different countries. During his address to Congress in early March, Trump had said that these tariffs are about “protecting the very soul” of America. “Tariffs are about making America rich again and making America great again,” he had said.

– The EU has already announced that they would impose retaliatory tariffs on American goods, which would target sectors like steel, aluminum, and agricultural products. EU leaders have also expressed concerns about a potential trade war and its impact on global inflation.

– Polish Prime Minister Donald Tusk said there is a need to avoid unnecessary tariff conflicts. ​While UK Foreign Secretary David Lammy stated that all options will remain on the table. ​

– Mexico and Canada have discussed the US “unjustified trade actions” and have pledged to remain in “close contact” to coordinate their responses. ​

– Vietnam has said that it would reduce its tariffs on US imports while Israel announced that they would remove them entirely.

If the White House starts to levy the taxes immediately, US firms will have no choice but to bear the brunt of the costs. If the tariffs announced are high, then the companies will find ways to lower their costs by either changing their supplier or pushing partners to share the financial burden, a BBC report said.

India has agreed to the Terms of Reference (ToR) for a Bilateral Trade Agreement (BTA) with the United States after intervention from the Prime Minister’s Office. A senior government official told The Indian Express that the PMO is eager to seal the deal quickly.​

The ToR was still pending as of Saturday when US negotiators concluded four days of talks in India. Both sides are now prepared for formal negotiations, during which India is expected to reduce tariffs on American goods in exchange for concessions from the US, according to the official.​

You must have heard the term ‘dirty 15’ from the officials of Trump administration, and if you’re wondering what it means, here’s your answer.

Although the White House has not been clear about which countries will have to face the reciprocal tariffs after today, the administration officials have been mentioning the term “dirty 15” which refers to the countries that US claims are charging high tariffs on American goods and run large trade deficits with the US.

The surcharge that the US government applies on goods that are imported from other countries is known as tariff. It has everything to do with trade and supply chains and working on building cost along the way. These tariffs will be paid by the countries that send their goods to the US. The cost of these tariffs can change and fluctuate depending on how the other countries feel about them.

Israel has cancelled all custom duties – tariffs on US products at the directive of Prime Minister Benjamin Netanyahu. The amendment to the trade levies came into effect after getting a nod from the Knesset Finance Committee and the Economy and Industry Minister.

There has been no confirmation regarding which countries exactly will have to face these reciprocal tariffs that are to be announced today on Liberation Day. However, Trump had on Sunday said that the tariffs could be applied to “all countries”. So it’s still unclear if tariffs will be announced against all countries or a few selected ones.

A BBC report said that US Trade Representative’s office, while preparing recommendations, had identified the countries it was “particularly interested” in. These countries include India, Canada, China, the European Union, Argentina, Australia, Brazil, Indonesia, Japan, Korea, Malaysia, Russia, Saudi Arabia, Mexico, South Africa, Switzerland, Taiwan, Thailand, Turkey, the UK, and Vietnam.

Hello and welcome to our live coverage of US tariff announcements today. US President Donald Trump is set to announce the reciprocal tariffs against different countries on, what is being called as the ‘Liberation Day’. To get real-time information and news on all the events leading up to the tariffs announcements, we advise you to keep watching this space.