Donald Trump announced during his speech that he would impose an individual higher fare on the countries with which the United States has the largest trade deficits. All another countries will proceed to be subject to the first 10% base tariff. Trump described them as America's “declaration of economical independence” and “the day of liberation”. [IEEPA Regulation gives the anticipation to modify customs duties](https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protection-our-sovereignty-and-strengthen-our-national-and-economic-security/). This allows the president to increase the tariff if trading partners take retaliatory action, or lower the tariff if trading partners “take crucial steps to remedy non-reciprocal trade agreements and comply with the United States on economical and national safety issues.”
