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Trade deficits -

President Donald Trump announced global reciprocal tariffs. Many of these are applicable to nations where a trade deficit exists. This means that the cost of a country's imports is superior to the value of its exports.

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Trade deficits -

“Trade deficits are no longer merely an economic problem. They are a national emergency," Trump said.

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Reciprocal tariffs -

President Trump is imposing reciprocal tariffs so that products entering the US will pay a more balanced amount of tax as those imported from those countries. "Reciprocal. That means they do it to us, and we do it to them," the president explained.

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Reciprocal tariffs -

The tariffs presented, however, are not reciprocal by product. Instead, blended country-specific tariff rates are imposed. "This is not full reciprocal, it is kind reciprocal," Trump said.

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The 10% club -

There are a number of nations where a 10% tariff is applicable. These include Oman, Uruguay, Bahamas, Bahrain, Qatar, and Ukraine.

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The 10% club -

Iceland, Kenya, Haiti, Bolivia, Panama, Ethiopia, and Ghana are also paying a 10% tariff rate.

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The 10% club -

There are more nations taxed at 10%, namely Brazil, Singapore, Chile, Turkey, Colombia, Peru, Costa Rica, and the UK.

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The 10% club -

Other countries where a 10% tariff is imposed include the Dominican Republic, United Arab Emirates, New Zealand, Argentina, Ecuador, Guatemala, and Honduras.

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The 10% club -

The 10% list continues with Egypt, Saudi Arabia, El Salvador, Trinidad and Tobago, and Morocco.

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The 15% club -

Venezuela and Norway are the two nations Trump imposed a 15% tariff on.

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The 17% club -

Three nations are being taxed 17%: Israel, Zambia and the Philippines.

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Nicaragua -

Nicaragua is one of the countries with an 18% tariff applied in the US.

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European Union -

The EU is one of America’s leading trading partners, but it’s also one from which the US imports more than it exports. The trade deficit in 2024 was US$235.6 billion.

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European Union -

Trump has applied a 20% reciprocal tax to EU countries. Some of these countries are among the top US trading partners, including Italy, Ireland, Germany, and France.

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The other 20% -

In addition to the EU nations, Jordan is the only other country in the world being taxed 20%.

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The 21-25% club -

Trump applied tariffs between 20 and 25% to a number of countries, namely Namibia (21%), Côte d'Ivoire (21%), Brunei (24%), Japan (24%), Malaysia (24%), and South Korea (25%).

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The 26-29% club -

The countries taxed between 26-29% include India (26%), Kazakhstan (27%), Tunisia (28%), and Pakistan (29%).

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The 30% club -

Algeria and South Africa are both subject to a 30% tariff on goods.

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The 31-33% club -

The next group of countries are taxed between 31-35%. They are Switzerland (31%), Indonesia (32%), Fiji (32%), Taiwan (32%), and North Macedonia (33%).

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China -

China is heavily hit by the US reciprocal tariffs. The country accounts for a huge amount of America’s trading volume, particularly on imports. In 2024, the trading deficit with China was US$295.4 billion.

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China -

Donald Trump has announced a reciprocal tariff of 34% on China.

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The 35-36% club -

A 35% tariff is being applied to Bosnia and Herzegovina, whereas Thailand is being taxed 36%.

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The 37-38% club -

Bangladesh, Botswana, Serbia, and Liechtenstein come next with a 37% tariff. Trump imposed a 38% tariff on Guyana.

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The 40-44% club -

Some nations will have to pay a whopping 40-44% tariff to enter the US market. These include Mauritius (40%), Sri Lanka (44%), and Myanmar (44%).

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The 45-49% club -

Doing business in the US will be rather expensive for these nations: Vietnam (46%), Madagascar (47%), Laos (48%), and Cambodia (49%).

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Lesotho -

This African nation is the only country in the world being taxed at a 50% tariff rate.

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Impact on consumer prices -

At this stage, it’s not possible to determine the impact Trump’s tariffs will have on consumer prices— but it’s likely that prices will increase.

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Impact on consumer prices -

This is because it’ll become more expensive for US businesses to import goods. How much these import taxes will drive up prices remains unknown.

Sources: (Reuters) (CBS News)

See also: The best countries for American expats in 2025

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