US President Trump Announcement on New Tariffs

On 2 April 2025, US President Donald Trump signed an Executive Order declaring a national emergency in relation to foreign trade and economic practices (see White House Fact Sheet). The Executive Order imposes tariffs in response to this emergency, as follows: 

• An additional 10% tariff on all countries, taking effect on the 5 April 2025. This will include products originating from the UK.  

• Individualised reciprocal tariffs on the countries with the largest trade deficits, taking effect on 9 April 2025. These will affect approximately 60 countries. The UK is not expected to be among the list of countries affected, but it does include the European Union, India and China.  

 These tariffs will remain in place indefinitely, until the US administration is satisfied that the trade deficit threat has been mitigated or resolved. 

 There will be some exceptions to the tariffs included in this announcement: products from Canada and Mexico (under the USMCA); products already or that will be individually subject to additional tariffs (such as steel/aluminium articles, autos and parts, etc.); copper, pharmaceuticals, lumber, energy and minerals not available in the US. 

 Read CTPA media statement here.