The Donald J. Trump administration is imposing the toughest trade barriers in generations, levying new duties of at least 10% on every major trading partner. But the duties exempt many chemicals and most pharmaceuticals, semiconductors, and energy products.
“April 2, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again,” President Trump said at a gathering in the White House’s Rose Garden to announce the new tariffs.
The White House is calling the “Liberation Day” measures reciprocal tariffs that respond to tariff rates in other countries and also take into consideration nontariff trade barriers such as licensing restrictions and anticompetitive practices.
