The new tariff policy imposes broad import duties on all countries, with some facing higher rates.
On Wednesday, U.S. President Donald Trump announced a fresh round of trade tariffs, targeting imports from multiple countries. According to the White House, the new levies are intended to bring manufacturing back to the United States and address trade imbalances. The policy introduces a 10% baseline import tariff on all countries, with higher rates for nations deemed to have restrictive trade barriers. While framed as a broad tariff on imports, the measure exempts several key goods. Steel, aluminum, and auto and auto parts remain untouched as they are already subject to Section 232 tariffs. Meanwhile, copper, pharmaceuticals, semiconductors, and lumber are explicitly excluded—for now. However, a White House official told Reuters that these items could be subject to future tariffs.
Energy and “Certain Minerals” Excluded
Additionally, energy and certain minerals not available in the U.S. are also exempt. The list of exempted minerals and energy-related products can be found here. It includes items such as rare earths, gallium, and germanium. Most of these minerals are sourced from China, which faces one of the highest tariff rates—34% on top of an existing 20%, bringing the total to at least 54%. In response, Beijing has vowed to retaliate, though it has not yet provided specific details. The European Union, meanwhile, stated that it would be “ready to negotiate” regarding trade barriers with the U.S. but would respond to any unfair levies.
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