On April 3, 2025, President Trump announced new and sweeping tariffs on imports from countries across the globe. Trump stated his import taxes would reciprocate what trading partners have long done to the U.S. The new import taxes range from 10% all the way up to 54%, impacting goods from various nations.

Jim Reid from Deutsche Bank called it a “radical policy reordering,” the U.S. now has a 25%-30% tariff. World leaders condemned the tariffs, fearing economic disruption, and many are preparing countermeasures.