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* "In many cases, the friend is worse than the foe in terms of trade," Trump said.
Published :
Updated :
President Donald Trump on Wednesday unveiled global reciprocal tariffs during an event at the White House.
Following are highlights of Trump's remarks:
* "We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves."
* "We are finally putting American first," Trump said.
* "Trade deficits are no longer merely an economic problem. They are a national emergency," Trump said.
* Trump held up a board showing the new rates charged on most countries. Rates ranged from 10% to 49% on the first board and up to 50% on later boards.
* With a few exceptions, based on the charts Trump read out, the tariff rate being imposed by the U.S. on most countries was around half of what those countries charged. There were some exceptions in which the U.S. charged the exact rates that those countries charged, according to the chart.
* "This is not full reciprocal, it is kind reciprocal," Trump said.
* Following is the list of new tariff rates Trump displayed.
|
Algeria
|
30%
|
|
Oman
|
10%
|
|
Uruguay
|
10%
|
|
Bahamas
|
10%
|
|
Lesotho
|
50%
|
|
Ukraine
|
10%
|
|
Bahrain
|
10%
|
|
Qatar
|
10%
|
|
Mauritius
|
40%
|
|
Fiji
|
32%
|
|
Iceland
|
10%
|
|
Kenya
|
10%
|
|
Liechtenstein
|
37%
|
|
Guyana
|
38%
|
|
Haiti
|
10%
|
|
Bosnia and Herzegovina
|
35%
|
|
Nigeria
|
14%
|
|
Namibia
|
21%
|
|
Brunei
|
24%
|
|
Bolivia
|
10%
|
|
Panama
|
10%
|
|
Venezuela
|
15%
|
|
North Macedonia
|
33%
|
|
Ethiopia
|
10%
|
|
Chana
|
10%
|
|
Country
|
U.S. reciprocal tariffs
|
|
China
|
34%
|
|
European Union
|
20%
|
|
Vietnam
|
46%
|
|
Taiwan
|
32%
|
|
Japan
|
24%
|
|
India
|
26%
|
|
South Korea
|
25%
|
|
Thailand
|
36%
|
|
Switzerland
|
31%
|
|
Indonesia
|
32%
|
|
Malaysia
|
24%
|
|
Cambodia
|
49%
|
|
United Kingdom
|
10%
|
|
South Africa
|
30%
|
|
Brazil
|
10%
|
|
Bangladesh
|
37%
|
|
Singapore
|
10%
|
|
Israel
|
17%
|
|
Philippines
|
17%
|
|
Chile
|
10%
|
|
Australia
|
10%
|
|
Pakistan
|
29%
|
|
Turkey
|
10%
|
|
Sri Lanka
|
44%
|
|
Colombia
|
10%
|
|
Country
|
U.S. reciprocal tariffs
|
|
Peru
|
10%
|
|
Nicaragua
|
18%
|
|
Norway
|
15%
|
|
Costa Rica
|
10%
|
|
Jordan
|
20%
|
|
Dominican Republic
|
10%
|
|
United Arab Emirates
|
10%
|
|
New Zealand
|
10%
|
|
Argentina
|
10%
|
|
Ecuador
|
10%
|
|
Guatemala
|
10%
|
|
Honduras
|
10%
|
|
Madagascar
|
47%
|
|
Myanmar (Burma)
|
44%
|
|
Tunisia
|
28%
|
|
Kazakhstan
|
27%
|
|
Serbia
|
37%
|
|
Egypt
|
10%
|
|
Saudi Arabia
|
10%
|
|
El Salvador
|
10%
|
|
Côte d'Ivoire
|
21%
|
|
Laos
|
48%
|
|
Botswana
|
37%
|
|
Trinidad and Tobago
|
10%
|
|
Morocco
|
10%
|