{"id":320193,"date":"2025-04-02T22:40:24","date_gmt":"2025-04-02T22:40:24","guid":{"rendered":"https:\/\/www.ghanamma.com\/2025\/04\/02\/trump-announces-sweeping-tariffs-to-countries-around-the-world\/"},"modified":"2025-04-02T22:40:24","modified_gmt":"2025-04-02T22:40:24","slug":"trump-announces-sweeping-tariffs-to-countries-around-the-world","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2025\/04\/02\/trump-announces-sweeping-tariffs-to-countries-around-the-world\/","title":{"rendered":"Trump announces sweeping tariffs to countries around the world"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Washington, Apr. 2,\u00a0(dpa\/GNA)\u00a0\u2013\u00a0US President Donald Trump announced a round of sweeping \u201creciprocal tariffs\u201d on countries around the world in a speech in the White House Rose Garden on Wednesday.<\/p>\n<p>\u201cWe will charge them approximately half what they are or have been charging us,\u201d he said, as he listed import tariffs to the US for certain areas. The European Union will face a 20% tariff. Japan must pay 24%, China 34%.<\/p>\n<p>\u201cThis is one of the most important days, in my opinion, in American history. It is our declaration of economic independence. Now it is our turn to prosper,\u201d he added.<\/p>\n<p>He said the US was \u201cstanding up for the American worker\u201d with these new steps.<\/p>\n<p>\u201cOur country and its tax payers have been ripped off for 50 years but it is not going to happen anymore,\u201d Trump added.<\/p>\n<p>New \u2018golden era\u2019 heralded<\/p>\n<p>He claimed that the US was entering a new \u201cgolden era.\u201d<\/p>\n<p>Trump had touted Wednesday as \u201ca day of liberation.\u201d<\/p>\n<p>The imposition of reciprocal tariffs means, in principle, that the US will raise its tariffs in proportion to where they currently charge less than their trading partners.<\/p>\n<p>Since moving back into the White House, Trump has been relying on tariffs on a large scale, as he also did in his first term in office.<\/p>\n<p>He has already imposed tariffs on all aluminium and steel imports, introduced tariffs of 25% on imported cars and car parts, introduced increased tariffs on all goods from China and is targeting its neighbours Canada and Mexico.<\/p>\n<p>The car tariffs in particular are hitting Europe and the German market hard.<\/p>\n<p>Tariffs have consequences for consumers<\/p>\n<p>An import duty works similarly to a tax. It has to be paid by the importing company \u2013 in this case, by companies in the US.<\/p>\n<p>It is likely that the importing companies will not simply absorb the higher costs themselves. They are likely to pass them on to consumers, causing prices to rise and potentially fuelling inflation.<\/p>\n<p>Trump\u2019s goal is to prevent US companies from importing products from abroad. In the long term, this should promote the US as a production location.<\/p>\n<p>Trump claimed that a number of key US and foreign companies have pledged to build new factories in the United States in the coming years.<\/p>\n<p>He promised a total of $6 trillion in investment in factories in the United States.<\/p>\n<p>Counter-tariffs expected<\/p>\n<p>Since counter-tariffs are expected and exporting companies are likely to suffer a decline in sales, this could lead to a decline in production and possible job cuts, which can put a strain on the economy as a whole. An escalating trade conflict between the US and the EU will therefore also have a significant impact on European consumers.<\/p>\n<h4 class=\"wp-block-heading\">GNA<\/h4>\n<h4 class=\"wp-block-heading\">PDC<\/h4>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Washington, Apr. 2,\u00a0(dpa\/GNA)\u00a0\u2013\u00a0US President Donald Trump announced a round of sweeping \u201creciprocal tariffs\u201d on countries around the world in a speech in the White House Rose Garden on Wednesday. \u201cWe will charge them approximately half what they are or have been charging us,\u201d he said, as he listed import tariffs to the US for certain [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":320194,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-320193","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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