US President Trump announced in the Rose Garden of the White House that the United States will impose large-scale tariffs on imported goods, calling it the "Global Reciprocal Tariff" plan. Among them, a 34% tariff will be imposed on Chinese goods, a 20% tariff will be imposed on EU goods, and different tax rates will be set for goods from Taiwan, Vietnam and other countries and regions. The Chinese Ministry of Commerce expressed its firm opposition to this and urged the United States to immediately cancel its unilateral tariff measures and properly resolve differences with its trading partners through equal dialogue.
President Trump said in a speech at the White House that the United States has long been in a "plundered" position in the global trade system. He emphasized that the tariff plan is aimed at revitalizing American industry and ending "unfair" trade treatment of the United States. Trump said that this reciprocal tariff will bring economic independence to the United States and called it "America's Liberation Day."
China's Ministry of Commerce expressed its firm opposition to the US announcement on the 3rd to impose reciprocal tariffs on all trading partners, and will resolutely take countermeasures to safeguard its own rights and interests, emphasizing that there are no winners in a trade war. A spokesperson for the Ministry of Commerce of China said that the US claims that it has suffered losses in international trade and raises tariffs on all trading partners on the grounds of so-called "reciprocity". This practice disregards the balance of interests achieved in multilateral trade negotiations over the years and also ignores the fact that the US has long made huge profits from international trade.
According to the plan, the United States will implement differentiated tariffs on different countries and regions, including China: 34%; EU 20%; Taiwan 32%; Vietnam 46%; Switzerland 31%; Britain and Brazil 10%; Japan, South Korea, India: 24%, 25% and 26% respectively; Cambodia: 49%. In addition, Trump announced that all goods entering the United States will be subject to a minimum tariff of 10%.