President Donald Trump introduced his “discounted reciprocal tariffs” on over 200 countries on April 2. Most countries receive a base tariff rate of 10%, but for countries receiving more, the rates were calculated by halving a rate he displayed as “tariffs charged to the U.S.A. including currency manipulation and trade barriers.”

President Donald Trump announced the largest increase in tariffs in U.S. history on April 2, unveiling new import duties that he said would revive domestic manufacturing and amount to a national “Declaration of Economic Independence.