Trump Announces New Base Tariff of 10% on All Countries, Targeting EU and Japan with Higher Duties

In a recent live address, U.S. President Donald Trump declared that a new base tariff of 10% would be applied universally to all countries.

U.S. President Donald Trump has announced a new 10% base tariff that will be applied universally to all countries. However, he also unveiled more specific measures targeting certain nations with varying customs duties, tailored to perceived trade practices.

During his recent live address, Trump stated that he anticipates foreign leaders ceasing tariffs on the U.S. and commencing the purchase of American-made products.

“We expect other countries to cease tariffs, begin purchasing U.S. products, and engage in fair, balanced, and mutually beneficial trade with the United States,” Trump said.

For the nations that fail to meet this standard, he plans to compute the total impact, encompassing non-monetary trade barriers, and institute retaliatory measures at half the rate of their existing customs duties.

Among the targeted regions, the European Union will face a 20% tariff on goods from each member country, and Japan’s imports will be hit with a 24% duty.

Initially, the proposed 10% tariff appeared relatively mild. However, once the more detailed measures became clear, the market reacted swiftly. Bitcoin’s value dropped noticeably, reflecting the uncertainty these aggressive trade policies have introduced.

Earlier today, Bitcoin’s price dipped to $86,500 after U.S. President Donald Trump announced plans for a 10% tariff on all goods entering the United States.

Earlier in the day, the cryptocurrency’s value had risen above $87,000. However, this move followed a period of consolidation around the $86,000 level.

The world’s leading cryptocurrency had been trading in a tight range after notching new highs above $87,000 earlier in the week.

After hitting a high above $87,000 earlier today, Bitcoin’s price dropped to $86,500 after Trump announced plans for a 10% tariff on all goods entering the United States.

The U.S. president also announced a 20% tariff on goods entering the United States from each member country of the European Union.

Earlier this week, Trump said he was considering tariffs on goods from China but had not yet made a decision.

The United States has been engaged in a trade war with China for the past three years. The two countries have imposed tariffs on billions of dollars’ worth of each other’s goods.

The trade war began after Trump said China’s trade practices were unfair and that he planned to take steps to rectify them.

China has denied any wrongdoing and says it hopes to reach a trade agreement with the United States through negotiations.

Earlier this year, Trump said he was optimistic that a trade deal could be reached soon. However, he also said he was in no hurry to make a deal.

The trade war has had a negative impact on the global economy. It has also led to increased uncertainty and instability in the markets.

In his statement, Trump said he had been forced to take steps to protect the U.S. economy from unfair trade practices by other countries.

“For decades, other countries have systematically abused the U.S. in trade, resulting in the closure of countless American factories, the loss of millions of American jobs, and a massive trade deficit that undermines our economic security,” Trump said.

“I have no choice but to respond in a manner that will protect the American people and ensure economic fairness,” he added.

The president said he had already taken steps to reduce the trade deficit and create jobs in the United States.

“But more needs to be done,” Trump said.

He said he would be introducing a new 10% tariff on all goods entering the United States from other countries.

The president said the tariff would be used to ensure that other countries began purchasing U.S. products and ceased tariffs on American goods.

“I am also directing the administration to calculate the total impact of each country’s trade and economic policies on the U.S. economy, including non-monetary trade barriers,” Trump said.

He said he would be imposing retaliatory tariffs equal to half the rate of their existing customs duties.

The president said he would be taking this action to ensure that other countries engaged in fair, balanced, and mutually beneficial trade with the United States.

“I am hopeful that foreign leaders will take the steps necessary to halt tariffs, begin purchasing U.S. products, and engage in the trade policies that will ensure a strong economic future for all of our nations,” Trump said.

“But if they do not, I will have no choice but to take the additional measures that are necessary to protect the American people and ensure economic fairness,” he added.