US President Donald Trump announced a 20 percent tariff on Jordan on Wednesday, referring to the new tariffs as "Liberation Day" tariffs.

 

During his announcement, titled "Make America Wealthy Again," Trump presented these economic measures as part of a broader initiative to restructure US trade policy. He declared that these steps signify a long-awaited "Liberation Day."

 

Trump stated that the United States would implement "discounted reciprocal tariffs" on its trading partners based on the total cost of protective barriers and taxes they impose on American goods. He described this move as his broadest tariff announcement to date, aimed at creating fairer trade practices.

 

The tariffs on each country will be calculated at a "discounted" rate, reflecting the overall rates of their tariffs and non-monetary barriers. Trump emphasized that these new rates would represent approximately half of the total tariffs that each country currently imposes on the US, claiming his approach is "fair."

 

As part of his outlined plans, Trump presented a chart detailing the proposed tariff rates for various countries. According to the chart, Chinese products would face a 34 percent tax, while goods from the European Union would incur a 20 percent tax. Additionally, Vietnamese products would be subject to a 46 percent tax, Japanese imports would have a 24 percent tax, and Indian goods would face a 26 percent tax. Notably, some of these rates exceed the flat 20 percent tariff he previously proposed during his campaign.

 

Trump indicated that every country would be subject to a 10 percent tariff baseline, which was incorporated into the figures he provided. Trump also mentioned the possibility of imposing a 25 percent tariff on most imports from Canada and Mexico, a decision he had delayed for a month, confirming that it may go into effect this week.

 

Furthermore, Trump announced that a 25 percent tariff on all imported cars would take effect at midnight, adding another layer to his administration's aggressive trade strategy.