​On April 2, 2025, President Donald Trump announced a series of sweeping new tariffs aimed at promoting U.S. manufacturing and addressing trade imbalances. These measures include a universal 10% tariff on all foreign imports, effective April 5, 2025, and higher "reciprocal tariffs" on countries with significant trade deficits with the United States, effective April 9, 2025. For instance, imports from China will face a 34% tariff, while those from the European Union will be subject to a 20% tariff.