FOX Enterprise host Larry Kudlow examines how President Donald Trump’s tariffs and commerce coverage could possibly be used for extra tax cuts on ‘Kudlow.’
President Donald Trump imposed sweeping reciprocal tariffs on nearly all of nations that commerce with the U.S.
“Reciprocal? That means they do it to us, and we do it to them. Very simple. Can’t get any simpler than that. This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence,” he mentioned Wednesday.
On Thursday, U.S. shares offered off sharply on the developments.
WHAT TO KNOW ABOUT PRESIDENT TRUMP’S ‘LIBERATION DAY’ TARIFFS
Ticker Safety Final Change Change % I:DJI DOW JONES AVERAGES 40780.37 -1,444.95
-3.42%
SP500 S&P 500 5426.22 -244.75
-4.32%
I:COMP NASDAQ COMPOSITE INDEX 16627.944861 -973.10
-5.53%
Whereas the tariff struggle between Canada, Mexico and China has been ongoing, the record rolled out Wednesday had a number of surprises that had been steeper than expectations, based on specialists. Particularly for Asian nations.
Here is the working tally outlined by the White Home.
President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs within the Rose Backyard on April 2, 2025. (Brendan Smialowski/AFP by way of Getty Photos / Getty Photos)
Tariff scoreboard
Vietnam and Cambodia are dealing with a few of the bigger hits.
“Vietnam, great negotiators, great people. They like me. I like them. The problem is they charge us 90%. We’re going to charge them a 46% tariff. Taiwan, where they took all of our computer chips and semiconductors. We used to be the king, right? We had everything. We had all of it. Now we have almost none of it,” Trump mentioned.
He famous Taiwan Semiconductor’s $100 billion dedication to put money into U.S. manufacturing that was introduced final month.
“Look at Cambodia, 97%. We’re going to bring it down to 49%. And they made a fortune with the United States of America,” Trump mentioned.
Ticker Safety Final Change Change % TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. 159.13 -11.22
-6.59%
LIVE MARKET UPDATES: TARIFF PUSH ROILS STOCKS
Trump additionally lashed out at Japan for up-charging the U.S. past the 46% tariff.
“Japan, 46%. They would charge us 46% and much higher for certain items like cars, you know, little items like cars, 46% we’re charging them 24%,” he mentioned.
Trump additionally known as out the European Union for working like a one-way avenue.
WHEN WILL TARIFF PRICE HIKES KICK-IN?
“The European Union bans imports of most American poultry, you understand? They say, ‘We want to send you our cars. We want to send you everything. But we’re not going to take anything that you have,'” he mentioned.
Some smaller nations, resembling Laos and Botswana, weren’t spared. Laos, for instance, fees the U.S. 90%.
Ukraine was placed on discover regardless of the continued struggle with Russia. Bosnia and Fiji additionally received dinged.
The Falkland Islands, which fees the U.S. 80%, was amongst these hit with the bigger tariffs.
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