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In a major move to reshape America’s trade policies, US President Donald Trump has announced a new wave of tariffs, set to take effect today (April 2). Calling the date “Liberation Day,” Trump declared that the tariffs are aimed at protecting American businesses from unfair trade practices imposed by other nations.
While specific details on the new tariffs are yet to be fully disclosed, they are expected to target countries that impose high duties on US goods or implement restrictive trade policies. The administration believes that these measures will help level the playing field for American manufacturers and exporters.
The “Dirty 15” – Countries Likely to Be Hit Hardest
US Treasury Secretary Scott Bessent recently identified a group of nations referred to as the “Dirty 15,” which includes 15% of America’s trading partners that impose high tariffs and other barriers on US exports. While the exact list remains undisclosed, insights from the US Commerce Department’s 2024 trade deficit report provide some clues. The following countries have been identified as having the highest trade deficits with the US:
- China
- European Union
- Mexico
- Vietnam
- Ireland
- Germany
- Taiwan
- Japan
- South Korea
- Canada
- India
- Thailand
- Italy
- Switzerland
- Malaysia
- Indonesia
These countries collectively contribute to a significant portion of the US trade imbalance and are expected to bear the brunt of the new tariffs.
Additional Countries Under Scrutiny
Beyond the “Dirty 15,” the Office of the US Trade Representative (USTR) has flagged 21 nations for engaging in what the administration considers unfair trade practices. This extended list includes:
- Argentina
- Australia
- Brazil
- Canada
- China
- European Union
- India
- Indonesia
- Japan
- South Korea
- Malaysia
- Mexico
- Russia
- Saudi Arabia
- South Africa
- Switzerland
- Taiwan
- Thailand
- Turkey
- United Kingdom
- Vietnam
While initial discussions have focused on the “Dirty 15,” Trump’s statements suggest that other countries could also be impacted by the upcoming trade measures.
What Tariffs Will Be Imposed?
The new tariffs are expected to vary by country and industry, mirroring past measures taken by the Trump administration. Previously, tariffs were placed on steel and aluminum, foreign automobile imports, and specific Chinese goods. The upcoming trade restrictions may include:
- Sector-Specific Duties: Increased tariffs on key industries such as pharmaceuticals and semiconductors, aiming to boost domestic production.
- Higher Automobile Import Tariffs: Additional levies on foreign cars and spare parts, expected to take effect from April 4.
- Increased Trade Barriers: Stricter measures on manufactured goods from countries with large trade surpluses with the US.
The announcement has already sparked reactions worldwide. Supporters argue that the tariffs will protect American jobs and industries from unfair competition, while critics fear that the move could escalate trade tensions and increase prices for consumers.
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