Explore the full Trump tariff list on countries like China, Russia, and Canada. Learn what the Trump tariff means and its impact on India and global trade.
What Are Trump’s Tariffs?
Tariffs are taxes imposed on imported goods to make them more expensive, encouraging consumers to buy domestic products. On April 2, 2025, President Trump announced sweeping tariffs, including a baseline 10% on all imports and significantly higher rates on specific countries, branding this move as an economic “liberation day.”
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What Are Tariffs and Why Are They Imposed?
Tariffs are government-imposed taxes on imports. They are used to:
- Protect domestic industries.
- Reduce trade deficits.
- Encourage local production.
However, they can also increase costs for consumers and businesses and provoke retaliatory trade measures.
Trump Tariff Rates by Country (April 2025)
Here is a detailed list of the latest tariff rates affecting countries, as per the executive order:
| Country | Tariff Rate |
|---|---|
| 🇰🇭 Cambodia | 49% |
| 🇱🇦 Laos | 48% |
| 🇻🇳 Vietnam | 46% |
| 🇲🇲 Myanmar | 45% |
| 🇱🇰 Sri Lanka | 44% |
| 🇧🇩 Bangladesh | 37% |
| 🇹🇭 Thailand | 37% |
| 🇨🇳 China | 34% (Note: 20% previously imposed, 14% newly added) |
| 🇮🇩 Indonesia | 32% |
| 🇹🇼 Taiwan | 32% |
| 🇵🇰 Pakistan | 30% |
| 🇮🇳 India | 27% |
| 🇰🇷 South Korea | 26% |
| 🇧🇳 Brunei | 24% |
| 🇯🇵 Japan | 24% |
| 🇲🇾 Malaysia | 24% |
| Germany | 25%–30% |
| France | 15%–35% |
| Italy | 15%–25% |
| Spain | 10%–15% |
Trump Tariff Stock Market Reaction on(April 4, 2025)
Trump’s tariff announcement triggered an immediate selloff in global financial markets:
| Index | Change |
|---|---|
| 📉 S&P 500 | -322.44 points (-5.97%) |
| 📉 Nasdaq Composite | -962.82 points (-5.82%) |
| 📉 Dow Jones Industrial | -2,231 points (-5.50%) |
| 📉 Nifty 50 (India) | -345.65 points (-1.49%) |
| 📉 Hang Seng (Hong Kong) | -352.72 points (-1.52%) |
| 📉 Nikkei 225 (Japan) | -955.35 points (-2.75%) |
| 📉 FTSE 100 | -419.5 points (4.95) |
| 📉 DAX 40 | -1075.67(4.95) |
Trump Tariffs List Affected Most Industries
- Electronics & Semiconductors
- Textiles & Apparel
- Agricultural Exports
- Automobile Parts
- Consumer Goods
These sectors rely heavily on exports from Asia to the U.S., making them highly vulnerable.
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Trump Tariff News Impact on India
- Tariff Rate: 27%
- Affected Sectors:
- Pharmaceuticals
- Textiles & Garments
- Mobile Components
- Processed Foods
- Economic Impact:
- Potential $8.2 billion loss in export revenue
- Decline in GDP growth forecast by 0.8%
- Increased input cost for manufacturers
- Rupee volatility expected in Q2 2025
Trump Tariffs on Russia
In 2025, President Trump announced high tariffs on Russian products as part of his trade crackdown. These new tariffs targeted items like oil equipment, metals (like steel and aluminum), fertilizers, and military-related technology. The U.S. increased tariffs on Russian goods by 25% to 45%, depending on the product category.
The goal was to reduce Russia’s earnings and apply pressure during global conflicts. However, this also caused prices to rise worldwide, especially for energy and raw materials.
🔸 Tariff Details:
- Steel & Metals: 35%
- Oil Equipment: 30%
- Fertilizers: 25%
- Military Tech Items: 45%
🔸 Key Effects:
- Russian exports to the U.S. fell
- Global prices for fuel and metals went up
- India and China increased trade with Russia
- U.S. companies faced higher material costs
Trump Tariffs on Canada
Although Canada is a close U.S. ally, it wasn’t spared. In 2025, Trump added new tariffs on Canadian wood, dairy, aluminum, and auto parts. The tariffs ranged from 10% to 25%, aimed at boosting U.S. industries like lumber and car manufacturing.
Canada responded by putting similar tariffs on U.S. goods, creating a trade clash that affected both countries’ consumers and businesses.
🔸 Tariff Details:
- Lumber (Wood Products): 20%
- Dairy Products: 25%
- Aluminum: 15%
- Automotive Components: 10%
🔸 Key Effects:
- Higher prices for construction and food in the U.S.
- Slower trade between the two countries
- Farmers, car makers, and small businesses affected
- Some factories faced delays due to supply chain issues
Trump Tariffs on China
China has been one of the biggest targets of Trump’s tariff policy, both in his first and now second term. In 2025, he expanded the list again with tariffs ranging from 15% to 50% on a wide range of Chinese goods like electronics, textiles, machinery, solar panels, and electric vehicles.
The main goal was to reduce U.S. dependence on Chinese products and protect American manufacturing. But these tariffs made many electronics and everyday items more expensive for U.S. consumers.
🔸 Tariff Details:
- Electronics & Mobile Phones: 25%
- Textiles & Clothing: 15%
- Solar Panels & EV Components: 30%
- Electric Vehicles (EVs): 50%
- Machinery & Tools: 20%
🔸 Key Effects:
- U.S. importers paid more for Chinese products
- Prices for phones, gadgets, and clothes increased in the U.S.
- American manufacturers got more support, but faced higher costs for parts
- China increased trade with countries like Russia and Brazil
Trump Tariffs on Europe (EU)
The European Union (EU) also faced tough tariffs from Trump in 2025, especially on luxury goods, food items, cars, and green energy products. The tariffs ranged between 10% and 35%, targeting major European exports like German cars, French wine, Italian cheese, and wind turbines.
Trump’s message was clear: the U.S. wants fairer trade and fewer imports from Europe. In return, the EU also raised tariffs on American goods like motorcycles, whiskey, and tech products.
🔸 Tariff Details:
- Automobiles (German Cars): 25%
- Wine, Cheese, & Gourmet Foods: 15%
- Green Energy Products (Wind Turbines, Solar Tech): 30%
- Luxury Goods (Fashion, Perfumes, etc.): 35%
🔸 Key Effects:
- European car prices in the U.S. went up
- Wine and food lovers in America paid more
- European companies reduced exports to the U.S.
- Tensions increased between U.S. and EU over trade rules
U.S. Economy – Inflation and Recession Warnings
According to analysts and the Federal Reserve:
- Inflation likely to rise due to higher import prices.
- Unemployment could hit 7.5% if trade war escalates.
- Recession risk raised to 60% by JPMorgan.
- U.S. businesses reliant on cheap imports face rising costs.
Expert Insight on Trump Tariff News
“These tariffs might shield U.S. industries temporarily, but they will hurt consumers and global supply chains. It’s a high-risk gamble in an interconnected world economy.”
— Market Analyst, H. Lockett
What Happens Next? After this Tariff Effect
Markets are bracing for:
- Counter-tariffs from affected nations
- Rerouting of supply chains
- Trade negotiations or WTO interventions
- Rising prices in U.S. retail and manufacturing
Economists expect continued market volatility and pressures on global GDP growth in 2025.
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