US President Donald Trump has announced a universal “baseline” 10% tariff on imports into the US, on what he has dubbed “Liberation Day”.

BBC News says he has also unveiled a 10% tariff on UK goods and 20% on EU goods, while certain countries will be hit with much steeper tariffs.

They include:

• China – 34%
• Vietnam – 46%
• Taiwan – 32%
• Japan – 24%
• India – 26%
• South Korea – 25%
• Thailand – 36%
• Malaysia – 24%
• Cambodia – 49%
• Bangladesh – 37%
• Pakistan – 29%
• Sri Lanka – 44%
• Myanmar – 44%
• Laos – 48%
• Switzerland – 31%
• Liechtenstein – 37%
• Serbia – 37%

In making the announcements, Mr Trump says he will start a “golden age” for America and says it’s time for the US to “prosper”.

As T&T is one of the countries that conducts trade with the US, it will be impacted by the universal baseline” tariff.

The baseline tariff is expected to take effect on April 5th 2025, while the higher tariffs will begin to be imposed from April 9th 2025.

Starting tonight, Mr Trump said the US will also impose a 25% tariff on all foreign-made automobiles.