Trump Imposes Reciprocal Tariffs, Targeting Taiwan with a 32% Duty

Trade Tensions Rise as Former President Donald Trump Introduces New Tariff Policy Affecting Global Economies.

Former U.S. President Donald Trump announced a reciprocal tariff policy on the 2nd, sparking significant implications for global trade. Under this policy, Trump stated he would impose tariffs on other nations at half the rate they currently levy on U.S. goods. This decision has a direct impact on Taiwan.

Trump cited Taiwan's current tariff rate on U.S. products as 64%. Consequently, the United States, under this new policy, will impose a 32% tariff on Taiwanese goods.

Furthermore, the policy extends to other major economies. China, which levies a 67% tariff on U.S. goods, will now face a 34% tariff. The European Union, imposing a 39% tariff, will be subject to a 20% U.S. tariff. Japan, with a 46% tariff, will have a 24% U.S. tariff imposed. Finally, South Korea, with a 50% tariff on U.S. products, will see a 25% tariff from the United States.