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What You Need to Know About Trump’s “Liberation Day” Tariffs
- clarkespositolaw
- Apr 8
- 2 min read
In our latest video, Managing Attorney Deanna Clark, Esq. breaks down President Trump’s newly announced “Liberation Day” tariffs, what they are, their impact, and the questions businesses are asking. Learn how our clients are responding, and what you can do now to protect your business and stay compliant. Concerned about what these tariffs may mean for your business? Invest in your company's future today by scheduling a complimentary intake meeting with our office.
On April 5, 2025, at 12:01am ET, the Trump Administration’s newly announced “Liberation Day” tariffs officially went into effect, marking a sharp shift in U.S. trade policy and raising urgent questions for importers. Below is a quick breakdown of what’s now in place and how your business can prepare.
What’s New?
The “Liberation Day” tariffs establish a 10% baseline tariff on all imports from all countries, in addition to a 25% tariff on all auto imports. On top of that, the administration has announced higher, reciprocal tariffs targeting countries it believes maintain significant barriers to U.S. exports. These tariffs range from 20% to 46%, depending on the country.
Here are the notable reciprocal tariff rates by country:
Country | Tariff Rate |
European Union | 20% |
India | 26% |
Vietnam | 46% |
Taiwan | 32% |
Japan | 24% |
Thailand | 36% |
South Korea | 25% |
China | 34% |
Goods from Canada and Mexico are not currently subject to reciprocal tariffs. This is because prior duties remain in place, specifically, a 25% tariff on goods linked to fentanyl enforcement and a 10% tariff on Canadian energy and potash. The reciprocal tariffs take effect at 12:01am ET on Wednesday, April 9.
Many companies are now scrambling to assess how these tariffs will impact their bottom line. Don't you think you deserve to know what you are up against? What are you waiting for? Invest in your company's future today by scheduling a complimentary intake meeting with our office.
Have questions? Give our office a call today at (917) 546-6997 or schedule an intake meeting, we would be happy to speak with you.
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