The implementation of the 10% baseline tariff in the United States impacts global trade regulations.
- byVic

讀後心得
Starting from the early morning of April 5, the United States implemented new tariff regulations, with the first batch of affected countries including Australia, the United Kingdom, and Argentina. Goods that were shipped before the new regulations and arrive in the U.S. can enjoy a 51-day exemption period, and those arriving before May 27 will be exempt from the 10% tariff. The new regulations will result in EU goods facing a 20% tariff, Taiwan 32%, and China 34%, plus the previous 20% tax, totaling 54%. Trump stated that this move would revitalize the U.S. economy; however, the stock market experienced a significant drop, and economists warned that prices would rise, leading various countries to begin considering retaliation measures. This represents the most aggressive step in Trump’s trade policy.
The United States' ports, airports, and customs warehouses began implementing new regulations at 12:01 AM Eastern Time on Saturday (April 5). The first wave of affected countries includes Australia, the United Kingdom, Colombia, Argentina, Egypt, and Saudi Arabia. However, according to an announcement from U.S. Customs and Border Protection, goods that were shipped or boarded before Saturday morning will enjoy a 51-day grace period. These goods can be exempt from a 10% tariff if they arrive by 12:01 AM on May 27.
Furthermore, on Wednesday (April 9), a "reciprocal tariff" will be implemented, with rates ranging from 11% to 50%. Goods from the European Union will face a 20% tariff, while those from Taiwan will incur a 32% tariff. The tariff on products from China is set at 34%, and when considering the additional 20% tariff imposed by Trump on all imports from China, the cumulative rate reaches 54%. When announcing the new tax policy this Wednesday, Trump stated that it would lead the U.S. back to a "golden age"; however, the stock market experienced a significant drop, with the S&P 500's market value evaporating by $5 trillion within two days.
On Friday, China implemented a 34% counter-tariff on U.S. goods, and the European Union indicated it would take retaliatory measures, while other countries like India chose to adopt a wait-and-see approach. This is Trump’s most aggressive step in trade policy to date. Economists warn that U.S. consumers will face significant price increases, while consumers in other parts of the world will also be affected.
A trade lawyer at Hogan Lovells and a former trade advisor in Trump's first term stated, "This is a dramatic shift and a major turning point in the way we trade with every country in the world." However, she also anticipates that these tariffs will change as countries negotiate.
- Start time for new regulations: April 5, 12:01 AM
- Affected countries: Australia, United Kingdom, Colombia, Argentina, Egypt, Saudi Arabia
- Grace period: 51 days
- Tariff exemption deadline: Arrive by 12:01 AM on May 27
- Reciprocal tariff rate range: 11% to 50%
- Tariffs on goods from various countries: EU 20%, Taiwan 32%, China 34% (total 54% with additional 20%)
- Trump's views on the new tax policy
- Predictions from economists