WASHINGTON — President Trump announced this afternoon that reciprocal tariffs will be implemented at 12:01 a.m. tomorrow, April 3.
The tariffs, which go into effect at midnight tonight, aren’t reciprocal in the literal sense. They’re discounted, with rates equaling to about half of what these countries impose on the U.S. For example, a rate of 34% will be applied to China, compared with the tariff rate of 67% China imposes on the U.S., according to the Trump Admin.
Trump held up a list of countries and tariff rates to the crowd gathered for the ceremony in the Rose Garden. Here are the numbers for the major furniture sourcing countries.
- Cambodia: 48%
- Vietnam: 46%
- China: 34%
- Indonesia: 32%
- India: 26%
- Malaysia: 24%
- European Union: 20%
These tariffs are set to go into effect at 12:01 am April 3, alongside a 25% tariff on all foreign-made automobiles.
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Credit: homeaccentstoday.com
