‘Reciprocal’ duties, action against ‘pathetic’ EU: Key points from Trump’s global tariff announcement

US President Donald Trump announced sweeping tariffs against many countries on Wednesday. The move is part of his much-touted ‘America First’ strategy aimed at boosting domestic production and fixing what the president calls unfair trade practices.

The new set of tariffs escalates the trade war Trump initiated earlier with China, Canada, and Mexico.

“The current global trading order allows those using unfair trade practices to get ahead, while those playing by the rules get left behind,” the White House said. “In 2024, our trade deficit in goods exceeded $1.2 trillion – an unsustainable crisis ignored by prior leadership.”

‘Liberation Day’

Trump framed his ‘Liberation Day’ tariffs as a means to restore the balance of trade. He has frequently accused foreign states of abusing the openness of the US market and “ripping off” the American people…