Washington, Apr 6 (UNI) The new “reciprocal tariffs” imposed by US President Donald Trump have taken the global market by storm, though the United States is also not immune to their effect.

Trump has asked the American public to “hang tough”, and added that the implementation of these tariffs will bring about an “economic revolution” in the US.

"We are bringing back jobs and businesses like never before," Trump said on Truth Social, adding, "It won't be easy but the end result will be historic. We will, MAKE AMERICA GREAT AGAIN!!!,” as per CBS News.

The Trump administration imposed a 10% minimum tariff on all imports coming into the country and even higher reciprocal tariffs on the US's biggest trading partners, which include China, Canada, Mexico, India, Japan, South Korea, Germany, the UK, Vietnam, Taiwan, as well as organisations like the ASEAN, and the European Union. The baseline tariff went into effect at 12:01 am EDT Saturday, and the reciprocal tariffs will begin April 9, according to USA Today.

Earlier this week, President Trump unveiled two new tariffs – a $10 universal duty on all US imports and so-called reciprocal tariffs applied to imports from about 90 nations. He said they would revitalise American manufacturing, create jobs and generate federal revenue.

Trump has argued that the new measures which seek to roll back decades of globalisation are critical to rejuvenate America's declining domestic manufacturing sectors and create a level playing field with other countries that impose high tariffs on US exports.

The tariffs have so far been one of the boldest moves of the second Trump administration, which have led to global markets plummeting.

According to CBS News, the S&P 500 fell 6% Friday, the Dow Jones Industrial Average plunged 5.5% and the Nasdaq composite dropped 5.8% — ending the worst week financial markets have had since the onset of the COVID-19 pandemic which had already wreaked havoc on the American market.



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