Trump announces reciprocal tariffs against more trading partners

President Donald Trump said he would introduce reciprocal tariffs on goods from most of the US’s trading partners.

He made the announcement during a speech to Congress on Tuesday, hours after the introduction of tariffs against neighbours Canada and Mexico, as well as China.

Just after midnight, Mr Trump put 25% tariffs on Mexican and Canadian imports, although he limited the levy to 10% on Canadian energy. He also doubled his 10% levies on Chinese imports in a series of moves that took US tariffs to the highest level since the 1940s.

“Other countries have used tariffs against us for decades, and now it’s our turn to start using them against those other countries,” he said.

He promised that from April 2, reciprocal tariffs will be imposed for most of the country’s trading partners.

“That’s reciprocal, back and forth. Whatever they tax us, we will tax them,” he said.

He has made similar threats for weeks but said he did not want to make the announcement on April 1 because of April Fool’s Day.

“Those goods that come in from other countries and companies, they’re really, really in a bad position in so many different ways,” he said. “They’re uninspected. They may be very dirty and disgusting as they come in and they pour in and they hurt our American farmers.”

The stock market has been tumbling amid the tariffs on Canada and Mexico, critical trading partners that have been retaliating with their own levies. The dispute threatens to increase costs for American consumers even as the president promises to bring down prices.

But Mr Trump described tariffs as integral to his political agenda.

He said: “Tariffs are about making America rich again and making America great again. And it’s happening and it will happen rather quickly. There will be a little disturbance, but we’re ok with that.”

Mexico’s President Claudia Sheinbaum said she plans to announce retaliatory tariffs against the US on Sunday.

Canadian Prime Minister Justin Trudeau earlier on Tuesday diagnosed Mr Trump’s tariffs on Canadian imports as simply “a very dumb thing to do”.