President Donald Trump has announced a new set of global tariffs, aiming to boost the U.S. economy. Starting April 5, a baseline 10% tariff will be applied to all countries, with some nations like the UK, Singapore, Brazil, and Saudi Arabia only facing this rate.

Additionally, specific tariffs will target around 60 countries deemed “worst offenders,” effective April 9. These nations, including China (54%), the European Union (20%), and Vietnam (46%), impose higher tariffs on U.S. goods or engage in practices that the U.S. sees as detrimental to its economic interests. Other affected countries include Thailand, Japan, Cambodia, and South Africa, with tariffs ranging from 24% to 49%.

However, Canada and Mexico will not face new tariffs. The U.S. will continue using previous tariff frameworks for these countries, addressing issues like fentanyl and border security.

Trump also announced a 25% tariff on all foreign-made automobiles, set to take effect immediately on April 3. These moves are expected to have significant economic impacts, possibly escalating trade tensions and affecting global markets. The tariffs are part of Trump’s broader strategy to reshape trade policies and protect American industries.