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Tariffs for everyone.
On 2 April 2025, US president Donald Trump held a press conference from the White House Rose Garden, on a day the world had been waiting in anticipation for: his so-called ‘Liberation Day’. During this press conference, he – as expected – announced new tariffs on goods imported to the US from different countries around the world.
“My fellow Amercians, this is Liberation Day,” Trump remarked as the press conference commenced. “We’ve been waiting for a long time. 2 April 2025 will be forever 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.”
“For years hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper and in so doing use trillions and trillions of dollars to reduce our taxes and pay down our national debt, and it’ll all happen very quickly. […]
“Jobs and factories will come roaring back into our country, and you see it happening already. We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers, and – ultimately – more production at home will mean stronger competition and lower prices for consumers. This will indeed be the golden age of America – it’s coming back.”
Sat at a desk with the White House behind him, Trump signed an executive order declaring a state of national emergency and imposing new tariffs on imports from around the world. He described this action as the US’ “declaration of economic independence”
Tariffs for everyone
A 10% baseline tariff will be introduced from 5 April 2025 on all goods imported from the US. This 10% rate will – as it stands – be applied to imports to the US from the UK.
Speaking to the press in the wake of this announcement from the other side of the Atlantic, UK prime minister Sir Keir Starmer said the government was “prepared” for this tariff and will “keep a cool head” in its response.
“Nobody wins in a trade war; that is not in our national interest,” Starmer stated. “We have a fair and balanced trade relationship with the US. Negotiations on an economic prosperity deal – one that strengthens our existing trading relationship – they continue, and we will fight for the best deal for Britain.”
Rain Newton-Smith, CEO of the Confederation of British Industry (CBI), expressed support for the UK’s policy in response to the new tariff, saying: “Business has been clear: there are no winners in a trade war. Today’s announcements are deeply troubling for businesses and will have significant ramifications around the world. Read more
Source: LOGISTICS MANAGER
