US President Donald Trump announced that new tariffs, set to be revealed this week, will apply to all countries, not just those with significant trade imbalances with the United States. The president is preparing to introduce these tariffs on Wednesday, a day he has called America's "Liberation Day." These new measures will be in addition to existing tariffs on aluminum, steel, vehicles, and all Chinese imports.

Global Markets React to Tariff Concerns

Stock markets in Asia dropped on Monday as investors worried about the potential economic effects of the tariffs. Japan’s Nikkei 225 index fell by 4%, Hong Kong’s Hang Seng declined by 1.6%, and South Korea’s Kospi dropped by 2.5%.

Trump’s Statement on Tariffs

Speaking to reporters on Air Force One, Trump said, "You'd start with all countries. Essentially all of the countries that we're talking about." However, he assured that his administration would be "far more generous" and "kinder" than those countries had been to the U.S. Despite this broad approach, Trump recently hinted that he might scale back his tariff plans. White House economic adviser Kevin Hassett had previously suggested that the tariffs would target 10 to 15 nations with the largest trade deficits with the U.S., though he did not specify which countries.

Economic Justification for Tariffs

Trump believes tariffs protect the U.S. economy from unfair competition and give America leverage in trade negotiations. His top trade adviser, Pete Navarro, claimed the tariffs could generate massive revenue. He estimated that a tax on all car imports could bring in $100 billion annually, while all planned tariffs might raise $600 billion—about 20% of the total value of U.S. goods imports. A White House report published last week suggested that a 10% tariff on all imports could create nearly 3 million new jobs in the U.S. However, financial experts worry that these measures could trigger a trade war, hurt global trade, and push the U.S. toward a recession.

Other Countries Prepare for Retaliation

The announcement has raised tensions among nations trying to negotiate trade deals with the U.S., including the United Kingdom. Meanwhile, the European Union and Canada have already signaled their intention to impose retaliatory tariffs if necessary.

Trump Sets Deadline for TikTok Sale

In a separate announcement, Trump stated that a deal for ByteDance, the Chinese owner of TikTok, to sell the app would be finalized before the deadline on Saturday, April 5. In January, he set this deadline for TikTok to secure a non-Chinese buyer or face a ban in the U.S. due to national security concerns. This move aligns with a law passed under the Biden administration that required the app to comply with U.S. regulations. Trump’s broad tariff plans have sparked global economic concerns, while nations prepare countermeasures. The upcoming trade policies, along with the TikTok decision, will have significant implications for international relations and economic stability.