Almost every country in the world, including an island with a population of zero, has been hit by Trump’s reciprocal tariffs.
President Donald Trump imposed reciprocal tariffs on most countries yesterday, including an uninhabited island. Most of his reciprocal tariffs are 10 percent, but some are much higher, such as Cambodia’s reciprocal tariff, which is 49 percent.
Countries missing from the list are Canada and Mexico, as they already have tariffs on them from the Trump administration. Russia is also not on the list. The White House said this is because they already have sanctions placed on them due to the war in Ukraine.
Three other countries with United States sanctions—Belarus, Cuba and North Korea—also did not receive reciprocal tariffs. However, Iran received a 10 percent reciprocal tariff, and Syria received a 40 percent reciprocal tariff, despite these two nations also being under sanctions and embargoes.Why It Matters
These tariffs have been widely criticized by political and industry leaders, who have said they will increase consumer prices in the U.S. and overseas. Some economists have warned that they will lead to a second Great Depression, citing the first Great Depression, which was made worse by tariffs introduced by President Herbert Hoover in 1930.
The Trump administration has said they will lead to industry growth in the U.S., but Republicans have also acknowledged that tariffs will «absolutely» inflict «short-term pain.»What To Know
The White House said in its initial statement and on its visual aides at Trump’s press conference that these reciprocal tariffs are based on tariffs placed on the U.
