President Donald Trump on Wednesday unveiled global reciprocal tariffs during an event at the White House.
Following are highlights of Trump's remarks:
* "In many cases, the friend is worse than the foe in terms of trade," Trump said.
* "We are finally putting American first," Trump said.
* "Trade deficits are no longer merely an economic problem. They are a national emergency," Trump said.
* Trump held up a board showing the new rates charged on most countries. Rates ranged from 10% to 49% on the first board and up to 50% on later boards.
* With a few exceptions, based on the charts Trump read out, the tariff rate being imposed by the U.S. on most countries was around half of what those countries charged. There were some exceptions in which the U.S. charged the exact rates that those countries charged, according to the chart.
* "This is not full reciprocal, it is kind reciprocal," Trump said.
* Following is the list of new tariff rates Trump displayed.
Algeria
30%
Oman
10%
Uruguay
10%
Bahamas
10%
Lesotho
50%
Ukraine
10%
Bahrain
10%
Qatar
10%
Mauritius
40%
Fiji
32%
Iceland
10%
Kenya
10%
Liechtenstein
37%
Guyana
38%
Haiti
10%
Bosnia and Herzegovina
35%
Nigeria
14%
Namibia
21%
Brunei
24%
Bolivia
10%
Panama
10%
Venezuela
15%
North Macedonia
33%
Ethiopia
10%
Chana
10%
Country
U.S. reciprocal tariffs
China
34%
European Union
20%
Vietnam
46%
Taiwan
32%
Japan
24%
India
26%
South Korea
25%
Thailand
36%
Switzerland
31%
Indonesia
32%
Malaysia
24%
Cambodia
49%
United Kingdom
10%
South Africa
30%
Brazil
10%
Bangladesh
37%
Singapore
10%
Israel
17%
Philippines
17%
Chile
10%
Australia
10%
Pakistan
29%
Turkey
10%
Sri Lanka
44%
Colombia
10%
Country
U.S. reciprocal tariffs
Peru
10%
Nicaragua
18%
Norway
15%
Costa Rica
10%
Jordan
20%
Dominican Republic
10%
United Arab Emirates
10%
New Zealand
10%
Argentina
10%
Ecuador
10%
Guatemala
10%
Honduras
10%
Madagascar
47%
Myanmar (Burma)
44%
Tunisia
28%
Kazakhstan
27%
Serbia
37%
Egypt
10%
Saudi Arabia
10%
El Salvador
10%
Côte d'Ivoire
21%
Laos
48%
Botswana
37%
Trinidad and Tobago
10%
Morocco
10%
* "We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves."
