President Trump on Wednesday laid out his long-awaited plans to slap reciprocal tariffs on countries around the world, with the new levies ranging from a 10% “baseline” tariff to additional duties for nations the administration considers to be the “worst offenders.”
All told, Trump announced tariffs that will impact some 185 countries, including the United States’s largest trading partners.
Additional reciprocal tariffs, for instance, will include 34% tariffs on Chinese imports, a 20% tariff on European Union imports, a 46% tariff on imports from Vietnam, 32% on imports Taiwan, and 26% on India — all set to take effect on April 9.
According to estimates from Evercore ISI, the new weighted-average tariff rate imposed by the US could jump to 29% once the new tariffs are implemented. That’s the highest rate in more than 100 years.
Here’s a full list of the countries facing announced reciprocal tariffs:
Markets were also working out how these tariffs will impact some of the largest US companies.
Apple (AAPL) stock, for example, fell over 7% late Wednesday, as its overseas production hubs are particularly vulnerable due to their presence in countries like China, Vietnam, and India. Stock futures fell sharply following the announcement.
Notably, the additional 34% tax on China will be added to the country’s existing 20% tariff, meaning its total tariff rate will rise to 54%. Mexico and Canada will be exempt for the time being, but remain subject to the 25% tariffs imposed last month.
Meanwhile, 25% tariffs on foreign auto imports will go into effect on Thursday, as previously indicated.
But the Trump administration’s expansive policy means that smaller nations, and more minor US trading partners, will be impacted, too.
The administration said countries including the Marshall Islands, Turks and Caicos, Montenegro, Aruba, and Grenada, among others, will be subject to the 10% baseline tariff.
The White House’s announcement also said the Heard and McDonald Islands, uninhabited territories held by Australia, will be subject to a 10% tariff.
“Simply put, the rates published are extremely punishing,” Bespoke Investment Group wrote in reaction to the news.
Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.
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