US President Donald Trump has announced a 20% tariff on EU goods.
Trump said he was announcing "reciprocal tariffs" on other nations - 'that treat the US badly'.
He has also announced a 25% tax on all foreign made automobiles, effective from midnight.
Other tariffs include a 24% tariff on Japan, 25% tariff on South Korea and a 26% tariff on India.
President Trump announces new tariff rates pic.twitter.com/79TOEumA5g
— Sean Spicer (@seanspicer) April 2, 2025
These are the first in a list of sweeping new trade tariffs being announced by the US President at a news conference in the Rose Garden at the White House tonight.
President Trump says his tariffs will boost American trade and jobs - by making overseas goods more expensive - calling it 'one of the most important days in US history'.
"We will supercharge our industrial domestic base, we will pry open foreign markets and break down foreign trade barriers," he said.
"Ultimately more production at home will mean stronger competition and lower prices for consumers.
"This will be indeed the golden age of Americans coming back."
President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)Speaking earlier, the Taoiseach said Ireland does not believe in Tariffs - and Ireland hasn't started this.
Micheál Martin said the Government will work with the European Union - with the fundamental objective of protecting Irish jobs.
The President of the European Central Bank has said that Trump's actions must encourage the EU to become more self-sufficient - something she characterised as a “march towards independence”.
