Trump Reciprocal Tariffs

Full list of reciprocal tariffs by country.

“Liberation Day” has come and gone, sending global markets into a tailspin. President Trump announced sweeping reciprocal tariffs on a litany of countries after the market closed on Wednesday, April 2, 2025, causing the S&P 500 shed 4.84% — falling from 5670.97 at the close of market on April 2, to 5,396.52 (close April 3, 2025).

Trump announced the incoming tariffs on March 26, 2025, along with signing an executive order imposing 25% tariffs on auto imports, and the market has slid 6.58% since the previous day prior to the announcement of the upcoming tariffs.

The reciprocal tariffs range from 10% to 50%, with Lesotho (50%), Saint Pierre and Miquelon (50%), Cambodia (49%), Laos (48%), Madagascar (47%), Vietnam (46%), Myanmar (44%), Sri Lanka (44%), Falkland Islands (41%) and Syria (41%) being the countries facing the 10 highest tariffs.

Trump has also imposed a flat 10 percent tariff on products coming from almost all the other trading partners of the US, impacting countries including Australia, the Dominican Republic, New Zealand and the United Kingdom.

There will also be a blanket 20% tariff against European nations.

The reciprocal tariffs will go into effect starting April 5, 2025.