President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden at the White House on April 2, 2025. (Brendan Smialowski/AFP via Getty Images)
Trump pointed to the European Union during his announcement, and explained the U.S. will charge the EU a 20% tariff, compared to its 39% tariffs on the U.S. Japan will see 24% tariffs, compared to the 46% the country charges the U.S., while China will be hit with a 34% tariff, compared to the 67% it charges the U.S.
The customized tariffs, Trump explained, would not be full reciprocal tariffs, as his administration was "very kind" and leveled tariffs that are roughly half of what a particular nation was charging the U.S. on tariffs.
"For nations that treat us badly, we will calculate the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating," Trump said Wednesday.
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"And because we are being very kind, we will charge them approximately half of what they are and have been charging us," he said. "So, the tariffs will be not a full reciprocal. I could have done that. Yes. But it would have been tough for a lot of countries."
Fox News Digital examined the full tariff list and spoke to experts about who stands to lose the most due to the tariffs, and who will likely benefit and tackle the new tariffs victoriously.
Chinese President Xi Jinping, left, and Vietnam President To Lam pass by an honor guard at a welcoming ceremony at the Great Hall of the People on Aug. 19, 2024 in Beijing. (Andres Martinez Casares-Pool/Getty Images)
Trump signed a memo under Section 301 of the Trade Act of 1974 in 2018 under his first administration targeting Chinese goods for U.S. tariffs in response to Chinese theft of American intellectual property, Trump said at the time.
"This was by far the worst day for the Vietnamese government, in the sense, they're realizing that that door has now closed. A 46% tariff – Vietnam is not an attractive country to import from. The numbers won't work," Kapadia said of the new rounds of tariffs targeting Vietnam.
The Asian nation has already felt the pinch, and called on Trump to delay the tariffs from taking effect this weekend.
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Vietnam's leader To Lam wrote a letter to Trump on Saturday, the New York Times reported, asking him to delay the imposition of the tariffs for at least 45 days and for the pair of world leaders to meet in Washington, D.C., in May "to jointly come to an agreement on this important matter, for the benefit of both our peoples and to contribute to peace, stability and development in the region and the world."
President Donald Trump and India's Prime Minister Narendra Modi shake hands during a news conference in the East Room of the White House, Feb. 13, 2025. (Photo/Alex Brandon)
"I think that they're going to make headway at getting toward more equitable trade between the two countries, whether that's India and the U.S. or Japan and the U.S., and honestly serves to the U.S.' benefit to rectify some of those tariff barriers with India," he said. "It is the largest democratic country in the world, and they are strategic ally for geopolitical reasons and a number of other considerations. And so they're going to be a country that I think we have to watch and really see how they negotiate their way through this new tariff regime."
Kapadia pointed to a handful of U.S. companies that operate in India, such as Lego, Apple and Goldman Sachs, and predicted companies that have made large-scale investments in India will likely stay there, while they will likely move other overseas operations in nations facing even higher tariffs, such as Vietnam, to India.
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"You name it, a whole slew of U.S. companies have made concerted, large-scale investments in India. I think that they're going to stick to them. I think they're going to grow there. And if you look at the difference, just on our arbitrage basis, 46% versus 26% – that's a big Delta. So if you're Apple, and you're making Apple technology, Apple-related products in Vietnam, and you're importing at 46%, or you're making it in India at 26%, you're obviously going to double down on your India effort," he said.
Brian, from Detroit, speaks alongside President Donald Trump as he delivers remarks on reciprocal tariffs at the White House on April 2, 2025. (Brendan Smialowski/AFP via Getty Images)
"They did a study by the Census Bureau in 1949, and they looked at the top 20 most influential cities that were prosperous in the United States. And I want you to think about some of these names on this [list]. They're names like Buffalo, Detroit, Cleveland, Youngstown, Allentown, Pittsburgh. That isn't the case anymore. For the 50 years after that, we saw both political parties celebrate putting jobs across in other countries," Rulli said.
Rulli reflected on 1977's "Black Monday" in Youngstown, Ohio, when steel manufacturer Campbell Works of Youngstown Sheet and Tube shuttered its doors and left thousands of workers unemployed in a chilling move that is still felt in the area today.
"We have Vallourec up in Youngstown, Ohio, that's making all the pipe that you use for fracking. And that's really exciting," Rulli said. "When you put energy first, it ties in with the whole Ohio six. We're gonna start building power plants, cracker plants. We're going to put America back on the map with energy. And it's all happening with this agenda that's going right in front of your eyes. And it starts with tariffs. Remember, we have to have a starting place for 'Art of the Deal.' And the president has put that bar very high. We have every ability to negotiate fair trade deals with these other countries right now."
President Donald Trump signs two executive orders during the Make America Wealthy Again event in the Rose Garden of the White House on Wednesday, April 2, 2025. (Demetrius Freeman/The Washington Post via Getty Images)
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"This is Art of the Deal. In the 1950s, America was at its highest point ever. And what we've done since then is pretty much gutted the working-class, blue-collar. And I think the people in my district realized this, you know, when we see some of these tariffs that are put on the United States, that they put 60, 70, 80% tariffs on us, and we send our product to them with no tariffs. I think this is the greatest, basically, reconfiguration of trade that has ever happened in American history. And it's very exciting, especially if you go by the America First agenda," he said.
Fox News Digital's Diana Stancy contributed to this report.
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