Trump's huge tariff package 31 percent on Swiss exports - perfect trade dispute
US President Trump is tightening his already drastic tariff policy. The Republican is launching a radical all-round attack - no country is to be spared.
Image: Mark Schiefelbein/AP/dpa
The Republican has announced that he will present a major new tariff package on April 2.
Image: Mark Schiefelbein/AP/dpa
US President Donald Trump speaks during an event to announce new tariffs in the Rose Garden of the White House.
Image: Evan Vucci/AP/dpa
US President Trump is tightening his already drastic tariff policy. The Republican is launching a radical all-round attack - no country is to be spared.
Image: Mark Schiefelbein/AP/dpa
The Republican has announced that he will present a major new tariff package on April 2.
Image: Mark Schiefelbein/AP/dpa
US President Donald Trump speaks during an event to announce new tariffs in the Rose Garden of the White House.
Image: Evan Vucci/AP/dpa
"This day will go down in history" - with these words, US President Trump announces far-reaching new tariffs. The new punitive measures are also a radical declaration of war on the EU.
02.04.2025, 23:35
03.04.2025, 11:50
dpa
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- US President Donald Trump wants to introduce a comprehensive tariff package for most imports into the United States.
- He plans to impose flat basic tariffs of ten percent on imports from all countries as well as higher punitive tariffs for a dozen countries with trade deficits with the USA, Trump explained in the White House Rose Garden on Wednesday.
- Specifically, there are to be tariffs of 34 percent on imports from China, tariffs of 31 percent on goods from Switzerland, 20 percent on EU imports, 25 percent for South Korea, 24 percent for Japan and 32 percent for Taiwan.
US President Donald Trump has announced a huge tariff package that will also hit Switzerland and the European Union hard. The US government is introducing new blanket tariffs of ten percent on most imports into the United States. For many countries, higher penalties will apply depending on the trade deficit, as the Republican announced in the White House Rose Garden. Imports from Switzerland to the USA. European Union to the USA will be subject to new tariffs of 31 percent. The EU will be asked to pay 20 percent.
This is the most aggressive and far-reaching step in the US President's trade policy to date. This is likely to have a significant impact on the global economy. A trade war with Switzerland and the EU now seems inevitable. "They are ripping us off. It's so sad to see. It's so pathetic," said Trump, referring to the Europeans.
The Republican had touted the day of the announcement in advance as a "day of liberation" and announced the imposition of reciprocal tariffs. In principle, this means that the USA will raise its tariffs proportionately wherever it currently charges less than its trading partners. Now he wants to introduce a highly complex system that includes both reciprocal and blanket punitive tariffs.
Trump: This day will go down in history
Tariffs of ten percent are to apply universally to imports from all countries into the United States. Beyond this, there are to be individual punitive levies that vary from country to country. Countries that the US considers to have particularly high trade barriers for American products will be particularly targeted. In addition to tariffs, Trump repeatedly criticizes other trade barriers such as import requirements, subsidies and other regulations.
"This day will go down in history as the day American industry was reborn, the day America reclaimed its destiny, and the day we began to make America rich again," said Trump. "For decades, our country was looted, pillaged, raped and plundered, by nations near and far, by friends and foes alike." This is now over. Trump spoke of one of the most important days in US history. The "golden age" of the USA is returning.
Since returning to the White House, Trump has relied on tariffs - similar to his first term in office. He has already imposed punitive tariffs on all aluminum and steel imports, imposed tariffs of 25 percent on imported cars and car parts, introduced increased tariffs on all goods from China and targeted his neighbors Canada and Mexico. The car tariffs in particular are hitting Europe and the German market hard.
Tariffs have consequences for consumers
An import duty works in a similar way to a tax. It has to be paid by the importing company - in this case by the companies in the USA. It is likely that the importing companies will not simply bear the higher costs themselves. They are likely to pass them on to consumers - prices will rise and inflation could be fueled again. Trump's aim is to prevent US companies from importing products from abroad. This is intended to promote the USA as a production location in the long term.
As counter-tariffs are expected and exporting companies are likely to suffer a drop in sales, this could lead to a decline in production and possible job cuts, which could have a negative impact on the economy as a whole. An escalating trade conflict between the USA and the EU will therefore also have a noticeable impact on German consumers. The German chemical industry has already called for a "cool head" and warned against an escalation spiral that would only increase the damage.
EU is Trump's permanent rival
Trump has repeatedly railed against the EU in public appearances. In principle, it is a thorn in Trump's side that European companies sell significantly more goods in the USA than American companies in the EU. The already known US tariffs on steel and aluminum imports as well as car imports had already fueled the trade dispute with the Europeans. The new punitive levies could be the straw that breaks the camel's back and lead to strong countermeasures from Brussels. The situation has already been escalating for weeks. Individual products could soon become more expensive in Germany too.
Announcement against a special backdrop
Trump chose not just any venue for his tariff announcement, but the Rose Garden. It was the Republican's first event in the famous garden right next to the Oval Office after his return to the White House. Trump has described tariffs as his favorite word in the past and introduced various punitive levies during his first term in office.
He wants to use tariffs to correct trade imbalances and shift more production to the USA. The US president is also likely to want to demonstrate his strength by imposing tariffs, as he accuses other countries of taking advantage of his country. At the same time, the tariff revenue could be used to at least partially finance his expensive election promise of comprehensive tax cuts. Tariffs also serve the Republican as a means of exerting pressure to achieve his goals in negotiations with other countries.
