U.S. President Donald Trump announced the country’s latest tariff policies on April 2, with a sweeping baseline tariff as well as higher rates for what he termed the “worst offenders”. Report by ILM.

Following his initial tariffs on Canada and Mexico, Trump has not announced any further tariffs for these countries, including the baseline rate. He had previously announced a 25% tariff on all goods from both countries before agreeing to some exemptions and delays.

A baseline tariff rate of 10% will apply to all imports to the U.S. from April 5, with the following countries only facing this baseline rate: United Kingdom, Singapore, Brazil, Australia, New Zealand, Turkey, Colombia, Argentina, El Salvador, United Arab Emirates and Saudi Arabia.

Meanwhile, custom tariffs have been announced for the European Union (20%), China (54%), Vietnam (46%), Thailand (36%), Japan (24%), Cambodia (49%), South Africa (30%), India (26%) and Taiwan (32%). These will take effect from April 9.
With immediate effect, the U.S. has also announced a 25% tariff on “all foreign-made automobiles”. ILM Deputy Editor Tom Hogarth will expand on the impacts of Trump’s automotive tariffs in the ILM.

May/June 2025 issue, releasing soon.

World leaders have reacted with dismay and disappointment to the news, generally lamenting upcoming trade wars and noting that the move will hurt American citizens most of all.