Trump’s New Tariffs to Take Effect on All Countries

Asian stock markets tumbled on Monday following U.S. President Donald Trump's declaration that sweeping new tariffs, set to be unveiled on Wednesday, will target all nations rather than focusing solely on countries with significant trade deficits.

The announcement, which Trump has dubbed "America's Liberation Day," marks a major escalation in global trade tensions.

Trump revealed that the tariffs would apply broadly, including aluminum, steel, vehicles, and all imports from China, aiming to protect the U.S. economy from what he perceives as unfair competition.

Speaking aboard Air Force One, he emphasized that "you'd start with all countries," while promising a "far more generous" approach compared to how other nations have treated the U.S.

Previously, White House economic adviser Kevin Hassett suggested the tariffs would primarily target 10 to 15 countries with the worst trade deficits, but Trump’s comments indicate a broader scope.

The uncertainty surrounding these measures rattled financial markets in Asia. Japan's Nikkei 225 plunged by 4%, Hong Kong’s Hang Seng fell 1.6%, and South Korea’s Kospi dropped 2.5%.

Analysts fear the tariffs could spark a global trade war and potentially push the U.S. toward recession.

Trump’s administration projects that the tariffs could generate substantial revenue and create millions of jobs.

His top trade adviser, Pete Navarro, claimed the measures could raise $600 billion annually—about one-fifth of total U.S. goods imports—and cited potential benefits for domestic industries like automotive manufacturing.

However, critics warn of higher consumer prices and disrupted supply chains.

International backlash is mounting as nations prepare retaliatory measures. The European Union and Canada have already announced plans to counter U.S. tariffs, while other countries brace for economic fallout.

Meanwhile, Trump continues to leverage tariffs as a bargaining tool for better trade deals, signaling openness to adjustments if negotiations yield favorable outcomes.

In addition to trade policies, Trump addressed the looming deadline for TikTok’s Chinese owner ByteDance to sell the app to a non-Chinese buyer by April 5 or face a ban in the U.S., citing national security concerns.

As global markets react anxiously to Trump's aggressive tariff strategy, the stakes remain high for nations negotiating their trade relationships with the U.S., further intensifying economic uncertainty worldwide.