Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits

What it means

Declares a national emergency to address persistent U.S. trade deficits, imposing a 10% tariff on all imports starting April 5, 2025, with higher rates for specific countries starting April 9. The order cites asymmetric trade relationships that harm U.S. manufacturing and national security.

Expected impact

• Higher prices for imported goods as tariffs are passed on to consumers
• Potential boost to domestic manufacturing as imports become less competitive
• Increased government revenue from tariff collection
• Possible retaliatory tariffs from trading partners
• Supply chain disruptions as companies adjust to new trade costs
• Strengthened bargaining position for U.S. in future trade negotiations
• Potential inflation due to higher prices for imported goods