Trump Imposes Sweeping Tariffs on Major Trading Partners
President Trump has unveiled sweeping tariffs—including 34% on Chinese goods and 20% on EU imports—targeting major trade partners. The measures have stirred market declines and raised concerns over semiconductor supply chains and broader economic impacts.
Published on April 3, 2025
On April 2025, President Donald Trump announced a new wave of tariffs that target several key trading partners. The policy imposes a 34% duty on Chinese goods, a 20% levy on imports from the European Union, and a universal 10% tariff on all other countries, with additional measures impacting Vietnam, Taiwan, Japan, and Cambodia. Under the USMCA agreement, Mexico and Canada remain exempt from these new charges.
The market reacted sharply as tech stocks such as Apple and Nvidia plunged and U.S. stock futures slumped. Concerns are mounting over the impact on semiconductor supply chains—critical to leading U.S. tech firms reliant on Taiwan’s TSMC—and broader economic disruptions. In related developments, the White House is negotiating a deal to sell TikTok’s U.S. operations before a looming April 5 deadline, while Nintendo plans to launch its Switch 2 console on June 5 at a higher-than-expected price. Other shifts include Jardine Matheson’s pivot to long-term investments, Tesla’s falling deliveries, and AP Møller-Maersk’s strategic rail acquisition in Panama.